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

Doximity (NASDAQ:DOCS) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com 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 target indicates a potential upside of 7.25% from the stock’s previous close.

DOCS has been the topic of a number of other research reports. Robert W. Baird raised their target price on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Canaccord Genuity Group cut shares of Doximity from a “buy” rating to a “hold” rating and boosted their price objective for the company from $40.00 to $60.00 in a report on Wednesday. Wells Fargo & Company upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Baird R W raised shares of Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.07.

Doximity Stock Down 5.0 %

Shares of DOCS stock opened at $49.42 on Thursday. Doximity has a 12 month low of $22.96 and a 12 month high of $61.75. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 56.80, a PEG ratio of 4.51 and a beta of 1.30. The stock has a 50-day moving average price of $43.40 and a 200 day moving average price of $34.11.

Institutional Investors Weigh In On Doximity

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCS. LRI Investments LLC bought a new stake in Doximity during the first quarter worth about $27,000. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after purchasing an additional 1,193 shares in the last quarter. Quarry LP boosted its holdings in shares of 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. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Doximity in the first quarter valued at $46,000. 87.19% of the stock is owned by 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.