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

Morgan Stanley reaffirmed their underweight rating on shares of Doximity (NASDAQ:DOCS) in a research report sent to investors on Tuesday morning, Benzinga reports. Morgan Stanley currently has a $25.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. Bank of America boosted their price objective on shares of Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a report on Tuesday, January 23rd. Wells Fargo & Company upped their target price on shares of Doximity from $25.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, February 9th. Evercore ISI restated an in-line rating and issued a $30.00 price target on shares of Doximity in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Doximity from $22.00 to $25.00 and gave the company an underweight rating in a research report on Friday, March 15th. Finally, Truist Financial boosted their price target on shares of Doximity from $28.00 to $29.00 and gave the company a hold rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Doximity currently has an average rating of Hold and an average target price of $28.82.

Doximity Price Performance

Shares of DOCS opened at $23.59 on Tuesday. The company has a market capitalization of $4.40 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. Doximity has a one year low of $19.71 and a one year high of $36.92. The company’s fifty day moving average price is $27.08 and its 200 day moving average price is $26.17.

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

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,500 shares of the business’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 transaction of $67,425.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $276,658.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 39.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently modified their holdings of DOCS. National Bank of Canada FI bought a new stake in shares of Doximity during the third quarter worth approximately $1,480,000. CWM LLC increased 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 purchasing an additional 1,813 shares in the last quarter. Lakehouse Capital Pty Ltd bought a new stake in Doximity in the third quarter valued at approximately $3,378,000. Linden Thomas Advisory Services LLC bought a new stake in Doximity in the third quarter valued at approximately $848,000. Finally, Harbor Capital Advisors Inc. increased its stake in Doximity by 57.4% in the third quarter. Harbor Capital Advisors Inc. now owns 35,965 shares of the company’s stock valued at $763,000 after purchasing an additional 13,118 shares in the last quarter. 87.19% of the stock is owned by 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.