Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Doximity (NASDAQ:DOCS) had its price objective increased by stock analysts at The Goldman Sachs Group from $58.00 to $80.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 6.80% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Canaccord Genuity Group lifted their price target on shares of Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Mizuho initiated coverage on shares of Doximity in a research report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price objective on the stock. Stephens initiated coverage on shares of Doximity in a research report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price objective on the stock. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Finally, Raymond James reissued an “outperform” rating and set a $83.00 price objective (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $74.91 on Monday. The company’s fifty day moving average price is $56.61 and its 200 day moving average price is $46.63. Doximity has a 12 month low of $22.96 and a 12 month high of $85.21. The firm has a market capitalization of $13.98 billion, a P/E ratio of 74.91, a P/E/G ratio of 4.61 and a beta of 1.39.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s 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 completion of the sale, the director now directly owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares during the last quarter. UMB Bank n.a. boosted its stake in Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 235 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the last quarter. Larson Financial Group LLC boosted its stake in Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares during the last quarter. Finally, Optimum Investment Advisors bought a new position in shares of Doximity in the 4th quarter worth about $43,000. 87.19% of the stock is currently 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.