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

Morgan Stanley restated their underweight rating on shares of Doximity (NASDAQ:DOCS) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $25.00 price target on the stock.

A number of other analysts also recently commented on the company. SVB Leerink began coverage on Doximity in a report on Monday, February 26th. They set a market perform rating and a $32.00 price objective for the company. Truist Financial upped their price objective on Doximity from $28.00 to $29.00 and gave the stock a hold rating in a report on Friday, February 9th. Wells Fargo & Company increased their price target on Doximity from $25.00 to $27.00 and gave the company an equal weight rating in a report on Friday, February 9th. Bank of America increased their price target on Doximity from $29.00 to $32.00 and gave the company a neutral rating in a report on Tuesday, January 23rd. Finally, Evercore ISI reiterated an in-line rating and issued a $30.00 price target on shares of Doximity in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $28.82.

Doximity Stock Down 1.4 %

Shares of Doximity stock opened at $23.59 on Tuesday. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $36.92. The firm has a market cap of $4.40 billion, a PE ratio of 35.74, a P/E/G ratio of 3.09 and a beta of 1.17. The business’s fifty day moving average is $27.08 and its two-hundred day moving average is $26.17.

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

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 10,258 shares in the company, valued at $276,658.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several large investors have recently modified their holdings of DOCS. National Bank of Canada FI bought a new position in shares of Doximity during the third quarter worth about $1,480,000. CWM LLC increased its stake in shares of 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 during the period. Lakehouse Capital Pty Ltd acquired a new stake in shares of Doximity in the third quarter valued at approximately $3,378,000. Linden Thomas Advisory Services LLC acquired a new stake in shares of Doximity in the third quarter valued at approximately $848,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of 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 during the period. Institutional investors 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.