Wells Fargo & Company Upgrades Doximity (NYSE:DOCS) to “Overweight”

Doximity (NYSE:DOCS) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $55.00 price target on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 37.81% from the company’s previous close.

DOCS has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Doximity in a report on Wednesday, December 24th. Barclays upgraded shares of Doximity to a “strong-buy” rating in a report on Monday, December 8th. The Goldman Sachs Group raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Truist Financial raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Wall Street Zen cut Doximity from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $55.00.

Doximity Price Performance

DOCS opened at $39.91 on Tuesday. Doximity has a one year low of $39.50 and a one year high of $85.21. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.39.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.