Doximity (NASDAQ:DOCS) Price Target Raised to $80.00

Doximity (NASDAQ:DOCS) had its target price boosted by The Goldman Sachs Group from $58.00 to $80.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Stephens started coverage on shares of Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price for the company. Barclays raised their price objective on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Mizuho started coverage on Doximity in a research report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 target price on the stock. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and boosted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, Raymond James restated an “outperform” rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Doximity Price Performance

Shares of DOCS stock opened at $75.05 on Monday. The stock’s 50-day moving average is $57.03 and its 200 day moving average is $46.83. Doximity has a 1-year low of $22.96 and a 1-year high of $85.21. The company has a market cap of $14.01 billion, a P/E ratio of 75.05, a PEG ratio of 4.61 and a beta of 1.39.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Several institutional investors have recently bought and sold shares of DOCS. FMR LLC grew its stake in Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Doximity by 708.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock valued at $80,641,000 after buying an additional 1,323,634 shares during the period. Franklin Resources Inc. lifted its holdings in Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock valued at $56,711,000 after acquiring an additional 979,113 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Doximity in the third quarter worth approximately $29,453,000. Finally, Los Angeles Capital Management LLC increased its stake in Doximity by 6,242.6% during the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after acquiring an additional 640,612 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

About Doximity

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.