KeyCorp initiated coverage on shares of Doximity (NASDAQ:DOCS – Get Rating) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued a sector weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reduced their price target on shares of Doximity from $68.00 to $45.00 in a research report on Wednesday, May 18th. Morgan Stanley reduced their price target on shares of Doximity from $55.00 to $35.00 and set an equal weight rating for the company in a research report on Wednesday, May 18th. Bank of America downgraded shares of Doximity from a neutral rating to an underperform rating and cut their target price for the stock from $43.00 to $29.00 in a research report on Friday, August 5th. The Goldman Sachs Group cut their target price on shares of Doximity from $72.00 to $56.00 and set a buy rating for the company in a research report on Wednesday, May 18th. Finally, Guggenheim cut their target price on shares of Doximity from $70.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, May 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $47.63.

Doximity Price Performance

DOCS stock opened at $32.65 on Thursday. The firm has a market cap of $6.32 billion, a PE ratio of 46.64, a P/E/G ratio of 16.68 and a beta of 0.95. Doximity has a 12 month low of $27.06 and a 12 month high of $101.49. The firm has a 50 day simple moving average of $37.65 and a 200 day simple moving average of $40.64.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DOCS. Vanguard Group Inc. increased its stake in shares of Doximity by 81.2% during the 1st 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 last quarter. Allianz Asset Management GmbH grew its stake in Doximity by 153.8% in the 1st quarter. Allianz Asset Management GmbH now owns 4,170,440 shares of the company's stock valued at $217,238,000 after buying an additional 2,527,010 shares during the last quarter. FMR LLC grew its stake in Doximity by 42.3% in the 2nd quarter. FMR LLC now owns 7,737,391 shares of the company's stock valued at $269,416,000 after buying an additional 2,298,400 shares during the last quarter. Clearbridge Investments LLC grew its stake in Doximity by 559.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company's stock valued at $139,751,000 after buying an additional 2,276,056 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Doximity in the 1st quarter valued at $115,584,000. Institutional investors and hedge funds own 46.99% of the company's stock.

About Doximity

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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.

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