Morgan Stanley Raises Doximity (NASDAQ:DOCS) Price Target to $33.00

Doximity (NASDAQ:DOCS) had its target price hoisted by Morgan Stanley from $26.00 to $33.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities analysts also recently issued reports on DOCS. Barclays upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $35.00 to $52.00 in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Bank of America lifted their price objective on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Robert W. Baird upped their target price on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and an average target price of $36.42.

Doximity Trading Up 1.5 %

Shares of DOCS opened at $42.35 on Wednesday. The firm has a market capitalization of $7.86 billion, a PE ratio of 52.94, a P/E/G ratio of 5.05 and a beta of 1.29. The stock’s 50 day moving average is $40.66 and its two-hundred day moving average is $32.33. Doximity has a twelve month low of $20.28 and a twelve month high of $44.88.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. On average, sell-side analysts predict that Doximity will post 0.8 EPS for the current year.

Insider Activity at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the sale, the director now directly owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Doximity by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares during the period. Van ECK Associates Corp increased its position in shares of Doximity by 19.7% in the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after acquiring an additional 427 shares in the last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of Doximity by 3.2% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock valued at $479,000 after acquiring an additional 537 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Doximity by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 30,779 shares of the company’s stock valued at $861,000 after acquiring an additional 725 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Company 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.