Morgan Stanley Reaffirms Underweight Rating for Doximity (NASDAQ:DOCS)

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

Other equities research analysts also recently issued research reports about the company. SVB Leerink initiated coverage on Doximity in a research report on Monday, February 26th. They set a “market perform” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Doximity from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, March 15th. Wells Fargo & Company increased their price objective on Doximity from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Barclays initiated coverage on Doximity in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, Truist Financial raised their price target on Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Doximity has a consensus rating of “Hold” and a consensus target price of $28.82.

Doximity Stock Performance

DOCS stock traded up $0.10 during midday trading on Tuesday, reaching $24.89. 322,962 shares of the company traded hands, compared to its average volume of 1,730,808. The firm 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 52-week low of $19.71 and a 52-week high of $37.06. The business has a 50 day moving average of $27.42 and a 200-day moving average of $26.19.

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

Insider Activity

In related news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total transaction of $67,425.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at $276,658.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. raised its holdings in Doximity by 111.3% in the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC purchased a new position in Doximity during the fourth quarter valued at $40,000. Creative Financial Designs Inc. ADV grew its position in shares of 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 purchasing an additional 473 shares during the period. CWM LLC lifted its stake in Doximity by 57.2% in the 3rd quarter. CWM LLC now owns 4,982 shares of the company’s stock valued at $106,000 after buying an additional 1,813 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Doximity in the 3rd quarter worth about $109,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.