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Needham Thinks Doximity’s Stock is Going to Recover

Needham analyst Scott Berg reiterated a Buy rating on Doximity (DOCSResearch Report) today and set a price target of $45.00. The company’s shares closed last Tuesday at $33.77, close to its 52-week low of $27.06.

According to TipRanks.com, Berg is a 4-star analyst with an average return of 8.6% and a 43.9% success rate. Berg covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Ceridian HCM Holding, and Tyler Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Doximity with a $62.13 average price target, implying an 83.9% upside from current levels. In a report released today, Robert W. Baird also maintained a Buy rating on the stock with a $45.00 price target.

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Doximity’s market cap is currently $6.46B and has a P/E ratio of 56.01.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOCS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Doximity Inc is a digital platform for U.S. medical professionals. Its cloud-based platform provides members with tools specifically built for medical professionals, enabling them to collaborate with their colleagues, securely 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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