Doximity (NASDAQ:DOCS) PT Raised to $26.00 at Morgan Stanley

Doximity (NASDAQ:DOCS) had its price target lifted by research analysts at Morgan Stanley from $25.00 to $26.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 26.97% from the stock’s current price.

Several other research firms have also issued reports on DOCS. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday. JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Thursday, April 25th. Evercore ISI lifted their price objective on Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Friday, May 17th. William Blair reiterated an “outperform” rating on shares of Doximity in a report on Friday, May 17th. Finally, Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus target price of $29.64.

Doximity Price Performance

Shares of Doximity stock traded up $9.94 during trading on Friday, hitting $35.60. 11,796,487 shares of the company were exchanged, compared to its average volume of 1,711,501. The firm has a market capitalization of $6.60 billion, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 5.12 and a beta of 1.22. Doximity has a 1-year low of $19.71 and a 1-year high of $35.79. The firm’s fifty day moving average price is $28.00 and its 200 day moving average price is $27.32.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 17.44% and a net margin of 31.04%. As a group, equities research analysts anticipate that Doximity will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Overpeck sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the sale, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,951 shares of company stock worth $2,574,843. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Doximity by 19.7% during the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after purchasing an additional 427 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Doximity by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 53,128 shares of the company’s stock worth $1,490,000 after purchasing an additional 520 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of Doximity by 3.2% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after acquiring an additional 537 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of Doximity by 4.5% during the 1st quarter. Perigon Wealth Management LLC now owns 15,598 shares of the company’s stock worth $420,000 after acquiring an additional 676 shares during the last quarter. 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.