Doximity (NASDAQ:DOCS) Given New $57.00 Price Target at Bank of America

Doximity (NASDAQ:DOCS) had its price target raised by research analysts at Bank of America from $54.00 to $57.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 2.08% from the stock’s current price.

DOCS has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of Doximity in a research note on Friday, November 15th. They issued a “neutral” rating and a $58.00 price objective on the stock. Robert W. Baird increased their price objective on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $60.00 price target (up from $40.00) on shares of Doximity in a research note on Wednesday, November 13th. Finally, Stephens assumed coverage on Doximity in a report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Doximity has a consensus rating of “Hold” and an average target price of $53.29.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded up $0.62 during mid-day trading on Monday, hitting $55.84. The stock had a trading volume of 486,385 shares, compared to its average volume of 1,006,582. The company’s 50 day moving average is $51.81 and its 200-day moving average is $40.83. Doximity has a 12-month low of $22.96 and a 12-month high of $61.75. The company has a market cap of $10.42 billion, a PE ratio of 64.18, a P/E/G ratio of 4.16 and a beta of 1.38.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently modified their holdings of the stock. Fountainhead AM LLC acquired a new stake in Doximity in the third quarter worth $710,000. Penserra Capital Management LLC acquired a new stake in Doximity during the 3rd quarter worth $2,384,000. Federated Hermes Inc. lifted its holdings in Doximity by 1,824.5% during the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after acquiring an additional 265,104 shares in the last quarter. AXA S.A. grew its stake in Doximity by 40.2% in the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after acquiring an additional 61,992 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Doximity by 6,242.6% in 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 in the last quarter. 87.19% of the stock is owned by institutional investors.

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.