Doximity (NASDAQ:DOCS) Given New $48.00 Price Target at JPMorgan Chase & Co.

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

Other equities analysts have also issued reports about the stock. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Canaccord Genuity Group cut shares of Doximity from a “buy” rating to a “hold” rating and raised their target price for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Doximity in a report on Friday, November 15th. They issued a “neutral” rating and a $58.00 price target on the stock. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $19.00 to $41.00 in a research note on Friday, November 8th. Finally, Raymond James restated an “outperform” rating and issued a $65.00 target price (up previously from $37.00) on shares of Doximity in a research note on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.27.

Doximity Trading Up 0.3 %

Shares of DOCS stock traded up $0.13 during mid-day trading on Thursday, reaching $48.13. The stock had a trading volume of 252,021 shares, compared to its average volume of 1,743,426. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 55.17, a PEG ratio of 4.18 and a beta of 1.30. The business’s fifty day moving average is $44.47 and its 200-day moving average is $34.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Doximity during the first quarter worth $27,000. Morse Asset Management Inc acquired a new stake in shares of Doximity in the third quarter valued at about $46,000. Blue Trust Inc. grew its stake in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after acquiring an additional 412 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other 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.