Doximity (NASDAQ:DOCS) Upgraded to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to an equal weight rating in a research report report published on Thursday morning, Marketbeat reports. The firm currently has $53.00 target price on the stock, up from their previous target price of $33.00.

Other analysts also recently issued reports about the stock. Truist Financial reissued a “hold” rating and set a $35.00 price target (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Bank of America raised their target price on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Baird R W raised Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $19.00 to $41.00 in a report on Friday, November 8th. Finally, Evercore ISI increased their target price on Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.07.

Doximity Trading Down 5.1 %

Shares of NASDAQ:DOCS opened at $49.40 on Thursday. The company has a market capitalization of $9.22 billion, a PE ratio of 56.78, a PEG ratio of 4.09 and a beta of 1.30. Doximity has a 12-month low of $22.96 and a 12-month high of $61.75. The business has a 50 day moving average of $43.40 and a two-hundred day moving average of $34.25.

Institutional Investors Weigh In On Doximity

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in Doximity by 17.4% during the first quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock worth $560,000 after buying an additional 3,086 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Doximity by 18.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock worth $412,000 after acquiring an additional 2,432 shares during the period. Sei Investments Co. boosted its position in shares of Doximity by 36.5% during the 1st quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock valued at $942,000 after acquiring an additional 9,359 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Doximity by 108.3% in the first quarter. Russell Investments Group Ltd. now owns 175,506 shares of the company’s stock valued at $4,723,000 after purchasing an additional 91,240 shares during the period. Finally, Blair William & Co. IL increased its position in Doximity by 31.7% during the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after purchasing an additional 21,787 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.