Morgan Stanley Reaffirms “Underweight” Rating for Doximity (NASDAQ:DOCS)

Morgan Stanley restated their underweight rating on shares of Doximity (NASDAQ:DOCS) in a report released on Tuesday morning, Benzinga reports. They currently have a $25.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America lifted their target price on shares of Doximity from $29.00 to $32.00 and gave the company a neutral rating in a report on Tuesday, January 23rd. Barclays assumed coverage on shares of Doximity in a research note on Wednesday, January 3rd. They issued an equal weight rating and a $31.00 price objective on the stock. Evercore ISI reissued an in-line rating and issued a $30.00 price objective on shares of Doximity in a research note on Tuesday, April 2nd. Leerink Partnrs reissued a market perform rating on shares of Doximity in a research note on Monday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Doximity from $25.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $28.82.

Doximity Price Performance

Shares of Doximity stock opened at $23.82 on Tuesday. The firm’s fifty day simple moving average is $26.95 and its 200-day simple moving average is $26.19. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 3.01 and a beta of 1.17. Doximity has a 12 month low of $19.71 and a 12 month high of $36.92.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million for the quarter, compared to analysts’ expectations of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. Analysts anticipate that Doximity will post 0.72 earnings per share for the current year.

Insider Transactions at Doximity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Doximity by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after purchasing an additional 616,157 shares during the period. Baillie Gifford & Co. boosted its position in shares of Doximity by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock worth $141,245,000 after buying an additional 57,078 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of Doximity by 15.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after buying an additional 301,290 shares in the last quarter. Norges Bank purchased a new stake in shares of Doximity in the 4th quarter worth about $35,995,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Doximity by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock worth $26,095,000 after buying an additional 107,776 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.