Morgan Stanley Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

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

Other equities analysts also recently issued reports about the company. Robert W. Baird raised their price objective on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Canaccord Genuity Group raised their price objective on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI raised their price objective on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, August 9th. Finally, Barclays upgraded Doximity from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $35.00 to $52.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Doximity has an average rating of “Hold” and a consensus price target of $36.42.

Doximity Trading Up 1.5 %

Doximity stock opened at $42.35 on Wednesday. The company has a market capitalization of $7.86 billion, a PE ratio of 52.94, a P/E/G ratio of 5.02 and a beta of 1.30. Doximity has a 12 month low of $20.28 and a 12 month high of $44.88. The stock has a 50-day moving average price of $40.66 and a two-hundred day moving average price of $32.38.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $126.68 million during the quarter, compared to the consensus estimate of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. As a group, analysts predict that Doximity will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Doximity 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 stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Doximity 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 stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the firm’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 value of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after buying an additional 603 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Doximity during the first quarter valued at approximately $27,000. Blue Trust Inc. lifted its holdings in Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the period. GAMMA Investing LLC lifted its holdings in Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after acquiring an additional 412 shares during the period. Finally, Quarry LP lifted its holdings in Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the period. 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.