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

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

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

Doximity Stock Up 38.7 %

NASDAQ:DOCS traded up $9.94 on Friday, hitting $35.60. The stock had a trading volume of 11,796,487 shares, compared to its average volume of 1,711,501. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 49.44, a PEG ratio of 5.12 and a beta of 1.22. The company has a fifty day moving average price of $28.00 and a two-hundred day moving average price of $27.32. Doximity has a 1-year low of $19.71 and a 1-year high of $35.79.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results 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. The business had revenue of $126.68 million for the quarter, compared to the consensus estimate of $119.88 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. As a group, analysts anticipate that Doximity will post 0.74 earnings per share for the current year.

Insider Activity

In related news, insider Craig Overpeck sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.85, for a total transaction of $35,775.00. Following the completion of the sale, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the sale, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,951 shares of company stock worth $2,574,843. Corporate insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Doximity by 21.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,247 shares of the company’s stock worth $624,000 after purchasing an additional 3,978 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Doximity by 2.6% in the fourth quarter. Arizona State Retirement System now owns 31,950 shares of the company’s stock worth $896,000 after acquiring an additional 801 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Doximity by 10.0% in the fourth quarter. New York State Teachers Retirement System now owns 87,381 shares of the company’s stock worth $2,450,000 after acquiring an additional 7,969 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Doximity in the fourth quarter worth approximately $654,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Doximity in the fourth quarter worth approximately $325,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.