Doximity’s (DOCS) Underweight Rating Reiterated at Morgan Stanley

Doximity (NASDAQ:DOCS)‘s stock had its “underweight” rating reissued by research analysts at Morgan Stanley in a research note issued on Tuesday, Benzinga reports. They presently have a $25.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 4.52% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Evercore ISI restated an “in-line” rating and set a $30.00 price target on shares of Doximity in a research note on Tuesday, April 2nd. Wells Fargo & Company raised their price target on shares of Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their price target on shares of Doximity from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, March 15th. Bank of America raised their price target on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Finally, SVB Leerink initiated coverage on shares of Doximity in a report on Monday, February 26th. They set a “market perform” rating and a $32.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.82.

Doximity Stock Performance

NASDAQ DOCS opened at $23.92 on Tuesday. The firm has a 50-day simple moving average of $27.22 and a 200 day simple moving average of $26.19. Doximity has a twelve month low of $19.71 and a twelve month high of $36.92. The stock has a market cap of $4.46 billion, a PE ratio of 36.24, a PEG ratio of 3.12 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $135.28 million during the quarter, compared to analysts’ expectations of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. Research analysts forecast that Doximity will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 of the company’s stock, valued at $276,658.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 39.40% of the stock is currently owned by company insiders.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in shares of Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock valued at $28,000 after purchasing an additional 524 shares in the last quarter. GAMMA Investing LLC bought a new position in Doximity in the fourth quarter valued at approximately $40,000. Creative Financial Designs Inc. ADV boosted its stake in Doximity by 16.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 473 shares during the last quarter. CWM LLC boosted its stake in Doximity by 57.2% in the third quarter. CWM LLC now owns 4,982 shares of the company’s stock valued at $106,000 after acquiring an additional 1,813 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Doximity in the third quarter valued at approximately $109,000. 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.