Barclays Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price target boosted by research analysts at Barclays from $52.00 to $75.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 29.15% from the company’s current price.

DOCS has been the topic of several other research reports. Truist Financial restated a “hold” rating and issued a $35.00 target price (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Evercore ISI raised their price target on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price objective on Doximity from $26.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, August 9th. Finally, Canaccord Genuity Group upped their price target on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.69.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $58.07 on Monday. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 66.75, a price-to-earnings-growth ratio of 7.00 and a beta of 1.30. The business has a 50-day simple moving average of $42.04 and a two-hundred day simple moving average of $33.44. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of Doximity by 17.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock worth $560,000 after acquiring an additional 3,086 shares in the last quarter. GSA Capital Partners LLP lifted its position in Doximity by 40.1% during the first quarter. GSA Capital Partners LLP now owns 17,390 shares of the company’s stock valued at $468,000 after purchasing an additional 4,981 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Doximity by 4.9% during the first quarter. Texas Permanent School Fund Corp now owns 106,915 shares of the company’s stock valued at $2,877,000 after purchasing an additional 5,018 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Doximity by 18.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock worth $412,000 after buying an additional 2,432 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Doximity by 36.5% in the 1st quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock worth $942,000 after buying an additional 9,359 shares during the last quarter. 87.19% of the stock is owned by 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.