Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Doximity (NASDAQ:DOCS - Free Report) had its target price lifted by Morgan Stanley from $26.00 to $33.00 in a research note published on Wednesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

DOCS has been the topic of several other research reports. Bank of America upped their price objective on Doximity from $32.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Barclays upgraded Doximity from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $35.00 to $52.00 in a research note on Tuesday, October 15th. Canaccord Genuity Group increased their price target on Doximity from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Doximity from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, August 19th. Finally, Needham & Company LLC raised Doximity from a "hold" rating to a "buy" rating and set a $38.00 target price for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Doximity currently has an average rating of "Hold" and a consensus price target of $36.42.

Doximity Stock Up 0.2 %

Shares of Doximity stock traded up $0.10 on Wednesday, reaching $41.98. 817,124 shares of the stock were exchanged, compared to its average volume of 1,670,991. Doximity has a twelve month low of $19.89 and a twelve month high of $44.88. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 52.48, a PEG ratio of 5.29 and a beta of 1.29. The business has a 50 day moving average price of $40.44 and a two-hundred day moving average price of $32.15.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. Research analysts forecast that Doximity will post 0.8 EPS for the current year.

Insider Transactions at Doximity

In other news, CFO Anna Bryson sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now owns 11,258 shares of the company's stock, valued at approximately $287,529.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anna Bryson sold 30,000 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares of the company's stock, valued at approximately $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,511 shares of company stock valued at $1,146,271. Corporate insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Several hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC grew its position in Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company's stock worth $179,122,000 after acquiring an additional 873,682 shares during the period. Clearbridge Investments LLC increased its position in shares of Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company's stock worth $163,709,000 after purchasing an additional 387,200 shares during the last quarter. Swedbank AB purchased a new stake in Doximity in the 1st quarter valued at about $91,673,000. Janus Henderson Group PLC lifted its position in Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock valued at $66,594,000 after buying an additional 621,590 shares during the last quarter. Finally, Capital World Investors boosted its stake in Doximity by 250.7% during the first quarter. Capital World Investors now owns 1,714,707 shares of the company's stock worth $46,143,000 after buying an additional 1,225,707 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

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.