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

Doximity (NASDAQ:DOCS)‘s stock had its “underweight” rating reiterated by investment analysts at Morgan Stanley in a research note issued on Tuesday, Benzinga reports. They currently have a $25.00 price target on the stock. Morgan Stanley’s target price suggests a potential upside of 4.52% from the stock’s previous close.

DOCS has been the topic of several other reports. Bank of America upped their price objective on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Barclays began coverage on Doximity in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company upped their price objective on Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. SVB Leerink started coverage on Doximity in a report on Monday, February 26th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Truist Financial increased their price target on Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.82.

Doximity Trading Down 2.7 %

NASDAQ DOCS opened at $23.92 on Tuesday. The stock’s 50 day moving average is $27.22 and its 200 day moving average is $26.19. Doximity has a 12 month low of $19.71 and a 12 month high of $36.92. The stock has a market cap of $4.46 billion, a PE ratio of 36.24, a P/E/G ratio of 3.12 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last posted 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. 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. On average, analysts forecast that Doximity will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.97, for a total value of $67,425.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Several hedge funds have recently bought and sold shares of the business. Rice Hall James & Associates LLC grew its position in shares of Doximity by 4.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 774,444 shares of the company’s stock worth $20,840,000 after buying an additional 30,426 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Doximity by 6.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 35,200 shares of the company’s stock worth $947,000 after buying an additional 2,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Doximity during the 1st quarter worth $416,000. State of Michigan Retirement System grew its position in shares of Doximity by 6.0% during the 1st quarter. State of Michigan Retirement System now owns 30,000 shares of the company’s stock worth $807,000 after buying an additional 1,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Doximity during the 1st quarter worth $583,000. Institutional investors own 87.19% of the company’s stock.

About Doximity

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.