Doximity (NASDAQ:DOCS) Price Target Raised to $25.00

Doximity (NASDAQ:DOCS) had its target price raised by Morgan Stanley from $21.00 to $25.00 in a research report sent to investors on Friday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other research firms have also recently weighed in on DOCS. Canaccord Genuity Group lowered their price objective on shares of Doximity from $40.00 to $33.00 and set a buy rating on the stock in a research report on Tuesday, September 5th. Needham & Company LLC cut shares of Doximity from a buy rating to a hold rating in a research report on Wednesday, August 9th. Bank of America lowered their price objective on shares of Doximity from $28.00 to $24.00 in a research report on Wednesday, August 9th. Guggenheim cut shares of Doximity from a buy rating to a neutral rating in a research report on Wednesday, August 9th. Finally, Evercore ISI lowered their price objective on shares of Doximity from $24.00 to $21.00 in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $28.40.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $23.86 on Friday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.87 and a beta of 1.04. Doximity has a 1-year low of $19.71 and a 1-year high of $40.12. The company has a 50 day moving average price of $21.62 and a 200 day moving average price of $28.06.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, November 9th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $113.61 million during the quarter, compared to analysts’ expectations of $109.19 million. Doximity had a net margin of 27.47% and a return on equity of 13.93%. On average, sell-side analysts expect that Doximity will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in shares of Doximity in the 2nd quarter valued at approximately $27,000. Quarry LP acquired a new position in shares of Doximity in the 1st quarter valued at approximately $38,000. American International Group Inc. acquired a new position in shares of Doximity in the 2nd quarter valued at approximately $43,000. Van ECK Associates Corp acquired a new position in shares of Doximity in the 2nd quarter valued at approximately $67,000. Finally, Point72 Hong Kong Ltd grew its position in shares of Doximity by 50,950.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,042 shares of the company’s stock valued at $71,000 after purchasing an additional 2,038 shares during the period. 54.65% of the stock is currently owned by institutional investors.

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.