Morgan Stanley Trims Doximity (NASDAQ:DOCS) Target Price to $35.00

Doximity (NASDAQ:DOCSGet Rating) had its target price decreased by stock analysts at Morgan Stanley from $55.00 to $35.00 in a research note issued to investors on Wednesday, The Fly reports. Morgan Stanley’s target price would suggest a potential upside of 3.64% from the company’s current price.

DOCS has been the topic of several other reports. Needham & Company LLC lowered their price target on shares of Doximity from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 9th. Raymond James decreased their price objective on shares of Doximity from $60.00 to $40.00 in a report on Wednesday. The Goldman Sachs Group began coverage on shares of Doximity in a report on Friday, February 11th. They issued a “buy” rating and a $74.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Doximity from $68.00 to $45.00 in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Doximity from a “sell” rating to a “hold” rating in a report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has a consensus rating of “Buy” and a consensus target price of $61.69.

Doximity stock opened at $33.77 on Wednesday. The company’s fifty day simple moving average is $45.34 and its 200-day simple moving average is $52.15. Doximity has a 12 month low of $27.06 and a 12 month high of $107.79.

Doximity (NASDAQ:DOCSGet Rating) last posted its quarterly earnings results on Tuesday, May 17th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.15 by $0.06. Doximity had a net margin of 39.15% and a return on equity of 20.38%. The business had revenue of $93.65 million for the quarter, compared to analysts’ expectations of $90.17 million. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. As a group, equities analysts expect that Doximity will post 0.63 earnings per share for the current fiscal year.

In other news, Director Gilbert H. Kliman sold 826 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $59.00, for a total transaction of $48,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,200 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $53.10, for a total transaction of $116,820.00. The disclosure for this sale can be found here. Insiders have sold 32,200 shares of company stock valued at $1,801,924 in the last ninety days.

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE acquired a new position in shares of Doximity during the third quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new stake in Doximity in the third quarter valued at about $27,000. Central Bank & Trust Co. increased its stake in Doximity by 400.0% in the first quarter. Central Bank & Trust Co. now owns 500 shares of the company’s stock valued at $26,000 after acquiring an additional 400 shares during the period. Washington Trust Advisors Inc. bought a new stake in Doximity in the first quarter valued at about $28,000. Finally, Signaturefd LLC increased its stake in Doximity by 460.0% in the first quarter. Signaturefd LLC now owns 728 shares of the company’s stock valued at $38,000 after acquiring an additional 598 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

About Doximity (Get Rating)

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

Further Reading

The Fly logo

Analyst Recommendations for Doximity (NASDAQ:DOCS)

Receive News & Ratings for Doximity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Doximity and related companies with MarketBeat.com's FREE daily email newsletter.