Doximity (NYSE:DOCS) Hits New 52-Week Low – What’s Next?

Shares of Doximity, Inc. (NYSE:DOCS) reached a new 52-week low during trading on Wednesday . The company traded as low as $34.31 and last traded at $34.84, with a volume of 4338776 shares traded. The stock had previously closed at $37.29.

Wall Street Analyst Weigh In

A number of research firms recently commented on DOCS. The Goldman Sachs Group upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Doximity in a research note on Wednesday, December 24th. Wells Fargo & Company upgraded Doximity from an “equal weight” rating to an “overweight” rating and set a $55.00 price target on the stock in a research report on Tuesday, January 20th. Barclays upgraded Doximity to a “strong-buy” rating in a report on Monday, December 8th. Finally, Royal Bank Of Canada raised Doximity to a “moderate buy” rating in a report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Doximity presently has a consensus rating of “Buy” and an average target price of $55.00.

Doximity Price Performance

The firm has a market cap of $5.23 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.55 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.