Mizuho Initiates Coverage on Doximity (NASDAQ:DOCS)

Analysts at Mizuho initiated coverage on shares of Doximity (NASDAQ:DOCS) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating and a $55.00 price target on the stock. Mizuho’s price target would suggest a potential downside of 0.58% from the stock’s previous close.

DOCS has been the topic of a number of other reports. Baird R W upgraded Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Friday, August 9th. Finally, Evercore ISI increased their target price on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.44.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $55.32 on Wednesday. The business’s fifty day moving average price is $46.60 and its two-hundred day moving average price is $36.69. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 63.59, a price-to-earnings-growth ratio of 4.34 and a beta of 1.40.

Hedge Funds Weigh In On Doximity

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Doximity by 15.8% during the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after buying an additional 873,682 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Doximity by 7.1% during the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares in the last quarter. State Street Corp grew its holdings in shares of Doximity by 2.5% during the third quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after buying an additional 88,922 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after buying an additional 472,565 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.