Doximity (NASDAQ:DOCS) Stock Rating Upgraded by Morgan Stanley

Doximity (NASDAQ:DOCS - Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $53.00 price target on the stock, up from their prior price target of $33.00. Morgan Stanley's price objective suggests a potential upside of 1.83% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Evercore ISI upped their price target on Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a report on Tuesday, October 8th. Truist Financial restated a "hold" rating and set a $35.00 target price (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Robert W. Baird lifted their price target on shares of Doximity from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised shares of Doximity from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $19.00 to $41.00 in a research report on Friday, November 8th. Finally, Bank of America boosted their target price on shares of Doximity from $32.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.57.

Doximity Price Performance

Shares of DOCS stock traded down $0.81 during trading on Thursday, reaching $52.05. The company's stock had a trading volume of 2,218,890 shares, compared to its average volume of 1,733,846. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 60.38, a P/E/G ratio of 5.08 and a beta of 1.30. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75. The stock's 50-day moving average price is $42.81 and its 200 day moving average price is $33.81.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOCS. Farther Finance Advisors LLC raised its stake in Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after acquiring an additional 603 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Doximity during the first quarter worth approximately $27,000. Blue Trust Inc. raised its stake in shares of Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company's stock worth $37,000 after purchasing an additional 1,193 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company's stock worth $63,000 after purchasing an additional 412 shares during the period. Finally, Quarry LP grew its position in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company's stock valued at $45,000 after buying an additional 131,253 shares during 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.