Doximity (NASDAQ:DOCS) Coverage Initiated at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Doximity (NASDAQ:DOCS) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a “neutral” rating and a $58.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 17.41% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Truist Financial increased their price objective on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $19.00 to $41.00 in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $33.00 to $53.00 in a report on Thursday. Finally, Baird R W upgraded shares of Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Eleven 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. According to data from MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus price target of $51.07.

Doximity Price Performance

Doximity stock opened at $49.40 on Friday. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 56.78, a price-to-earnings-growth ratio of 4.51 and a beta of 1.30. The firm has a 50-day moving average of $43.40 and a two-hundred day moving average of $34.18. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75.

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCS. Fountainhead AM LLC acquired a new position in shares of Doximity during the third quarter valued at about $710,000. Blair William & Co. IL boosted its stake in Doximity by 31.7% in the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after purchasing an additional 21,787 shares in the last quarter. Federated Hermes Inc. grew its position in Doximity by 1,824.5% during the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after purchasing an additional 265,104 shares during the last quarter. AXA S.A. increased its stake in Doximity by 40.2% during the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after purchasing an additional 61,992 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Doximity by 128.7% in the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after buying an additional 54,281 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.