Doximity (NASDAQ:DOCS) Raised to “Equal Weight” at Morgan Stanley

Doximity (NASDAQ:DOCS) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $53.00 price target on the stock, up from their previous price target of $33.00. Morgan Stanley’s price objective points to a potential upside of 0.23% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price target (up from $40.00) on shares of Doximity in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 target price for the company in a research note on Friday, November 8th. Evercore ISI boosted their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Finally, Truist Financial restated a “hold” rating and set a $35.00 price objective (up previously from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus price target of $49.57.

Doximity Stock Down 8.9 %

Shares of Doximity stock opened at $52.88 on Thursday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 5.08 and a beta of 1.30. The stock’s 50-day simple moving average is $42.81 and its 200-day simple moving average is $33.81. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Doximity by 17.4% in the first quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock valued at $560,000 after acquiring an additional 3,086 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Doximity by 18.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock valued at $412,000 after purchasing an additional 2,432 shares during the last quarter. Sei Investments Co. raised its position in Doximity by 36.5% in the 1st quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock worth $942,000 after purchasing an additional 9,359 shares during the period. Russell Investments Group Ltd. raised its position in Doximity by 108.3% in the 1st quarter. Russell Investments Group Ltd. now owns 175,506 shares of the company’s stock worth $4,723,000 after purchasing an additional 91,240 shares during the period. Finally, Blair William & Co. IL lifted its stake in Doximity by 31.7% in the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after purchasing an additional 21,787 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.