Doximity (NASDAQ:DOCS) Rating Reiterated by Morgan Stanley

Doximity (NASDAQ:DOCS)‘s stock had its “underweight” rating reissued by stock analysts at Morgan Stanley in a research report issued on Tuesday, Benzinga reports. They currently have a $25.00 target price on the stock. Morgan Stanley’s target price would suggest a potential upside of 0.44% from the stock’s previous close.

A number of other analysts have also commented on DOCS. JPMorgan Chase & Co. lifted their price target on Doximity from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Friday, March 15th. Evercore ISI reaffirmed an “in-line” rating and set a $30.00 price objective on shares of Doximity in a research note on Tuesday, April 2nd. Barclays began coverage on shares of Doximity in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $31.00 target price on the stock. Bank of America increased their price objective on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Truist Financial boosted their target price on Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.82.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded up $0.10 during midday trading on Tuesday, hitting $24.89. 322,962 shares of the stock were exchanged, compared to its average volume of 1,730,808. The business’s 50-day moving average price is $27.42 and its 200 day moving average price is $26.19. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 3.10 and a beta of 1.17. Doximity has a 12 month low of $19.71 and a 12 month high of $37.06.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Doximity had a net margin of 29.39% and a return on equity of 16.08%. The business had revenue of $135.28 million for the quarter, compared to analysts’ expectations of $127.46 million. As a group, sell-side analysts expect that Doximity will post 0.72 EPS for the current year.

Insider Activity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the sale, the director now owns 10,258 shares in the company, valued at $276,658.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Doximity in the fourth quarter worth approximately $35,995,000. Vanguard Group Inc. lifted its position in shares of Doximity by 5.9% in the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares in the last quarter. AQR Capital Management LLC increased its position in Doximity by 344.2% in the third quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock worth $11,461,000 after purchasing an additional 418,523 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Doximity by 15.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after buying an additional 301,290 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Doximity in the 4th quarter worth approximately $6,518,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

About Doximity

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.