The Goldman Sachs Group Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS) had its price objective lifted by The Goldman Sachs Group from $58.00 to $80.00 in a research note released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. KeyCorp lowered their price target on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Mizuho assumed coverage on Doximity in a report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 target price for the company. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $83.00 price target (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Finally, Barclays lifted their price objective on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Doximity presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Doximity Stock Performance

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

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity 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 sale, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several hedge funds have recently made changes to their positions in DOCS. Shaker Investments LLC OH purchased a new position in Doximity during the 4th quarter worth approximately $559,000. Fountainhead AM LLC purchased a new position in shares of Doximity during the third quarter worth approximately $710,000. Penserra Capital Management LLC purchased a new position in shares of Doximity during the third quarter worth approximately $2,384,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Doximity in the 4th quarter valued at $362,000. Finally, Los Angeles Capital Management LLC raised its position in Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after purchasing an additional 640,612 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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.