Doximity (NASDAQ:DOCS) Upgraded to “Equal Weight” at Morgan Stanley

Doximity (NASDAQ:DOCS) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $53.00 target price on the stock, up from their previous target price of $33.00. Morgan Stanley’s price objective indicates a potential upside of 0.23% from the stock’s current price.

Several other brokerages also recently weighed in on DOCS. Canaccord Genuity Group reissued a “hold” rating and set a $60.00 price target (up previously from $40.00) on shares of Doximity in a research report on Wednesday. Evercore ISI boosted their price target on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Baird R W raised Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $19.00 to $41.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and raised their price target for the company from $40.00 to $60.00 in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Doximity has an average rating of “Hold” and a consensus price target of $49.57.

Doximity Stock Down 8.9 %

Doximity stock opened at $52.88 on Thursday. The stock’s 50 day moving average is $42.81 and its 200 day moving average is $33.81. The company has a market capitalization of $9.82 billion, a P/E ratio of 60.78, a PEG ratio of 5.08 and a beta of 1.30. Doximity has a twelve month low of $22.96 and a twelve month high of $61.75.

Institutional Investors Weigh In On Doximity

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its position in Doximity by 17.4% during the first quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock valued at $560,000 after purchasing an additional 3,086 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Doximity by 18.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock valued at $412,000 after buying an additional 2,432 shares in the last quarter. Sei Investments Co. grew its stake in shares of Doximity by 36.5% during the 1st quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock valued at $942,000 after acquiring an additional 9,359 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Doximity by 108.3% during the 1st quarter. Russell Investments Group Ltd. now owns 175,506 shares of the company’s stock valued at $4,723,000 after acquiring an additional 91,240 shares during the period. Finally, Blair William & Co. IL increased its holdings in Doximity by 31.7% in the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after acquiring an additional 21,787 shares in the last quarter. 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.