West Tower Group LLC Buys New Position in Doximity, Inc. (NASDAQ:DOCS)

West Tower Group LLC bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $174,000.

A number of other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd increased its holdings in shares of Doximity by 197.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 9,020 shares of the company’s stock valued at $393,000 after purchasing an additional 5,984 shares during the period. Penserra Capital Management LLC acquired a new stake in Doximity during the third quarter worth about $2,384,000. Cerity Partners LLC grew its holdings in Doximity by 21.4% during the third quarter. Cerity Partners LLC now owns 49,876 shares of the company’s stock worth $2,173,000 after acquiring an additional 8,781 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Doximity by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,001 shares of the company’s stock worth $32,808,000 after acquiring an additional 31,966 shares during the period. Finally, Banco Santander S.A. acquired a new stake in Doximity during the third quarter worth about $647,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ:DOCS opened at $48.75 on Tuesday. Doximity, Inc. has a one year low of $22.96 and a one year high of $61.75. The stock has a market cap of $9.10 billion, a PE ratio of 56.03, a P/E/G ratio of 3.91 and a beta of 1.30. The stock has a 50 day moving average price of $44.83 and a 200 day moving average price of $35.34.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Baird R W raised Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group started coverage on Doximity in a research report on Friday, November 15th. They set a “neutral” rating and a $58.00 price target on the stock. Truist Financial increased their price target on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $60.00 price target (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Eleven investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.27.

Doximity 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.