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

Morgan Stanley reiterated their underweight rating on shares of Doximity (NASDAQ:DOCS) in a report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has a $25.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America raised their price objective on Doximity from $29.00 to $32.00 and gave the company a neutral rating in a research report on Tuesday, January 23rd. Leerink Partnrs reaffirmed a market perform rating on shares of Doximity in a research report on Monday, February 26th. SVB Leerink started coverage on Doximity in a research report on Monday, February 26th. They set a market perform rating and a $32.00 price objective on the stock. Barclays started coverage on Doximity in a report on Wednesday, January 3rd. They issued an equal weight rating and a $31.00 price target for the company. Finally, Wells Fargo & Company raised their price target on Doximity from $25.00 to $27.00 and gave the stock an equal weight rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Doximity presently has a consensus rating of Hold and an average target price of $28.82.

Doximity Trading Down 0.9 %

Shares of Doximity stock opened at $24.57 on Tuesday. Doximity has a 12 month low of $19.71 and a 12 month high of $37.06. The stock’s fifty day moving average price is $27.33 and its 200-day moving average price is $26.21. The firm has a market cap of $4.58 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.10 and a beta of 1.17.

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

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the sale, the director now directly owns 10,258 shares in the company, valued at $276,658.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.40% of the company’s stock.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC increased its position in shares of Doximity by 4.1% in the first quarter. Rice Hall James & Associates LLC now owns 774,444 shares of the company’s stock valued at $20,840,000 after buying an additional 30,426 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Doximity by 6.0% in the first quarter. Louisiana State Employees Retirement System now owns 35,200 shares of the company’s stock valued at $947,000 after buying an additional 2,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Doximity in the first quarter worth approximately $416,000. State of Michigan Retirement System boosted its stake in shares of Doximity by 6.0% in the first quarter. State of Michigan Retirement System now owns 30,000 shares of the company’s stock worth $807,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Doximity in the first quarter worth approximately $583,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.