Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Doximity (NASDAQ:DOCS) had its target price hoisted by JPMorgan Chase & Co. from $30.00 to $48.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on the company. Baird R W upgraded Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Evercore ISI raised their price target on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 target price for the company in a research report on Friday, November 8th. The Goldman Sachs Group started coverage on Doximity in a research report on Friday, November 15th. They set a “neutral” rating and a $58.00 price target on the stock. Finally, Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $33.00 to $53.00 in a report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.27.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $48.20 on Thursday. The firm’s 50 day simple moving average is $44.64 and its 200-day simple moving average is $35.16. Doximity has a one year low of $22.96 and a one year high of $61.75. The firm has a market cap of $9.00 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 3.89 and a beta of 1.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after purchasing an additional 472,565 shares in the last quarter. M&T Bank Corp acquired a new position in Doximity during the third quarter worth about $351,000. Barclays PLC raised its holdings in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after acquiring an additional 20,125 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Doximity in the 3rd quarter worth approximately $260,000. Finally, State Street Corp boosted its holdings in shares of Doximity by 2.5% during the 3rd quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after purchasing an additional 88,922 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other 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.