Doximity (NYSE:DOCS) Raised to “Buy” at Canaccord Genuity Group

Doximity (NYSE:DOCS) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $34.00 target price on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 24.63% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Royal Bank Of Canada upgraded shares of Doximity to a “moderate buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Doximity in a research report on Wednesday, December 24th. Wells Fargo & Company raised shares of Doximity from an “equal weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 20th. Zacks Research upgraded Doximity from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Barclays raised Doximity to a “strong-buy” rating in a research report on Monday, December 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Doximity has an average rating of “Buy” and a consensus target price of $44.50.

Doximity Price Performance

Shares of DOCS opened at $27.28 on Monday. The business has a 50-day moving average of $40.81. The stock has a market cap of $5.14 billion, a PE ratio of 22.73, a P/E/G ratio of 1.51 and a beta of 1.39. Doximity has a 1-year low of $23.66 and a 1-year high of $80.25.

Doximity Company Profile

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.