Morgan Stanley Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its target price increased by Morgan Stanley from $26.00 to $33.00 in a report published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Friday, August 9th. Truist Financial restated a “hold” rating and set a $35.00 price target (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Bank of America increased their target price on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.42.

Doximity Trading Up 0.2 %

Shares of DOCS opened at $41.98 on Wednesday. The stock has a market cap of $7.79 billion, a PE ratio of 52.48, a PEG ratio of 5.29 and a beta of 1.29. Doximity has a 1 year low of $19.89 and a 1 year high of $44.88. The stock has a 50 day simple moving average of $40.44 and a 200-day simple moving average of $32.15.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The company had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. On average, sell-side analysts forecast that Doximity will post 0.8 EPS for the current fiscal year.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Watkin Phoebe L. Yang sold 1,011 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the completion of the transaction, the director now directly owns 11,258 shares in the company, valued at approximately $287,529.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Doximity

Several hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in shares of Doximity in the 1st quarter valued at $148,823,000. Swedbank AB acquired a new position in Doximity in the first quarter valued at about $91,673,000. Capital World Investors increased its holdings in shares of Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after acquiring an additional 1,225,707 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after purchasing an additional 621,590 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after purchasing an additional 387,200 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.