Canaccord Genuity Group Reaffirms Hold Rating for Doximity (NASDAQ:DOCS)

Doximity (NASDAQ:DOCS)‘s stock had its “hold” rating reissued by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $60.00 price objective on the stock, up from their prior price objective of $40.00. Canaccord Genuity Group’s target price would suggest a potential upside of 15.27% from the stock’s previous close.

Several other equities research analysts also recently issued reports on DOCS. Barclays boosted their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a report on Friday, November 8th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 price target (up from $37.00) on shares of Doximity in a report on Friday, November 8th. Bank of America increased their target price on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Morgan Stanley increased their target price on shares of Doximity from $26.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.57.

Doximity Stock Performance

Shares of DOCS stock opened at $52.05 on Wednesday. Doximity has a one year low of $22.96 and a one year high of $61.75. The company has a 50 day moving average price of $42.81 and a 200 day moving average price of $33.81. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 5.08 and a beta of 1.30.

Hedge Funds Weigh In On Doximity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after buying an additional 603 shares in the last quarter. LRI Investments LLC bought a new position in shares of Doximity during the 1st quarter valued at about $27,000. Blue Trust Inc. boosted its position in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after purchasing an additional 1,193 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Doximity by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after purchasing an additional 412 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares in the last quarter. Institutional investors 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.