Barclays Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS) had its target price hoisted by Barclays from $52.00 to $75.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on DOCS. Truist Financial reissued a “hold” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Raymond James reissued an “outperform” rating and issued a $65.00 price target (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Evercore ISI raised their price objective on Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their target price on Doximity from $26.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Doximity currently has a consensus rating of “Hold” and a consensus target price of $50.57.

Doximity Stock Performance

NASDAQ DOCS opened at $52.05 on Monday. Doximity has a one year low of $22.96 and a one year high of $61.75. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 58.09, a price-to-earnings-growth ratio of 4.51 and a beta of 1.30. The company’s 50-day simple moving average is $43.14 and its two-hundred day simple moving average is $33.94.

Hedge Funds Weigh In On Doximity

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after buying an additional 603 shares during the period. LRI Investments LLC acquired a new stake in shares of Doximity during the 1st quarter valued at about $27,000. Blue Trust Inc. increased its stake in shares of Doximity by 621.4% in 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 raised its holdings in Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares during the period. Finally, Quarry LP boosted its position in Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after purchasing an additional 131,253 shares in the last quarter. 87.19% of the stock is currently 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.