Doximity, Inc. (NASDAQ:DOCS – Get Rating)’s share price was down 8.4% during trading on Monday after Piper Sandler lowered their price target on the stock from $39.00 to $35.00. The stock traded as low as $31.12 and last traded at $32.00. Approximately 47,496 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 2,220,209 shares. The stock had previously closed at $34.94.
Other analysts have also recently issued research reports about the company. Wells Fargo & Company started coverage on Doximity in a research report on Monday, October 31st. They issued an “overweight” rating and a $38.00 target price for the company. Bank of America cut Doximity from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $43.00 to $29.00 in a research report on Friday, August 5th. Berenberg Bank reissued an “initiates” rating on shares of Doximity in a research report on Friday, July 29th. Canaccord Genuity Group reduced their price objective on Doximity from $47.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Finally, Evercore ISI started coverage on Doximity in a research report on Sunday, October 23rd. They set an “inline” rating and a $28.00 price objective for the company. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.94.
Hedge Funds Weigh In On Doximity
A number of institutional investors have recently made changes to their positions in DOCS. Vanguard Group Inc. increased its stake in shares of Doximity by 81.2% in the first quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock worth $390,774,000 after purchasing an additional 3,362,575 shares during the period. Allianz Asset Management GmbH increased its stake in Doximity by 153.8% during the first quarter. Allianz Asset Management GmbH now owns 4,170,440 shares of the company’s stock valued at $217,238,000 after acquiring an additional 2,527,010 shares during the period. FMR LLC increased its stake in Doximity by 42.3% during the second quarter. FMR LLC now owns 7,737,391 shares of the company’s stock valued at $269,416,000 after acquiring an additional 2,298,400 shares during the period. Clearbridge Investments LLC increased its stake in Doximity by 559.5% during the first quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock valued at $139,751,000 after acquiring an additional 2,276,056 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in Doximity during the first quarter valued at about $115,584,000. 46.99% of the stock is currently owned by institutional investors.
Doximity Price Performance
The firm has a 50 day moving average of $28.96 and a 200-day moving average of $34.14. The stock has a market capitalization of $6.19 billion, a P/E ratio of 48.22, a price-to-earnings-growth ratio of 17.51 and a beta of 0.64.
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.