Doximity (NASDAQ:DOCS) Shares Up 4.9% – Here’s What Happened

Doximity, Inc. (NASDAQ:DOCS)’s share price shot up 4.9% on Thursday . The stock traded as high as $54.92 and last traded at $54.75. 1,146,062 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 1,747,002 shares. The stock had previously closed at $52.19.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOCS. Bank of America boosted their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Truist Financial boosted their price target on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Stephens started coverage on Doximity in a research note on Friday. They set an “equal weight” rating and a $55.00 price objective on the stock. Baird R W upgraded Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, KeyCorp raised Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 target price on the stock in a report on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.59.

Doximity Price Performance

The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 66.47, a P/E/G ratio of 4.16 and a beta of 1.40. The firm’s fifty day moving average price is $49.11 and its 200-day moving average price is $38.78.

Institutional Trading of Doximity

Hedge funds have recently made changes to their positions in the company. Fountainhead AM LLC acquired a new position in shares of Doximity in the third quarter worth approximately $710,000. Penserra Capital Management LLC bought a new stake in shares of Doximity during the third quarter valued at approximately $2,384,000. Federated Hermes Inc. increased its stake in Doximity by 1,824.5% during the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after purchasing an additional 265,104 shares in the last quarter. AXA S.A. grew its holdings in shares of Doximity by 40.2% during the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after buying an additional 61,992 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Doximity by 15,714.3% during the second quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock worth $310,000 after acquiring an additional 11,000 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.