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

Morgan Stanley upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat.com reports. They currently have $53.00 target price on the stock, up from their prior target price of $33.00.

Several other equities analysts have also commented on the stock. Canaccord Genuity Group lowered shares of Doximity from a “buy” rating to a “hold” rating and raised their target price for the company from $40.00 to $60.00 in a report on Wednesday. Bank of America boosted their price objective on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Robert W. Baird upped their price objective on Doximity from $41.00 to $45.00 and gave the company 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 raised their price objective for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Finally, Raymond James reissued an “outperform” rating and issued a $65.00 price target (up from $37.00) on shares of Doximity in a report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $51.07.

Doximity Price Performance

Doximity stock traded down $2.64 during trading hours on Thursday, hitting $49.40. The company had a trading volume of 2,779,364 shares, compared to its average volume of 1,738,556. The firm has a 50-day moving average of $43.14 and a 200 day moving average of $33.94. The firm has a market cap of $9.17 billion, a PE ratio of 57.23, a PEG ratio of 4.51 and a beta of 1.30. Doximity has a one year low of $22.96 and a one year high of $61.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted 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 purchasing an additional 603 shares during the period. LRI Investments LLC acquired a new position in Doximity during the 1st quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in shares of Doximity in the 3rd quarter worth approximately $46,000. Blue Trust Inc. lifted its stake in shares of Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after acquiring an additional 412 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

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.