Doximity (NASDAQ:DOCS) Price Target Cut to $55.00 by Analysts at Needham & Company LLC

Doximity (NASDAQ:DOCS) had its price objective lowered by Needham & Company LLC from $75.00 to $55.00 in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on DOCS. Truist Financial cut their price objective on shares of Doximity from $62.00 to $37.00 and set a “buy” rating for the company in a research note on Friday. Bank of America upgraded shares of Doximity from a “neutral” rating to a “buy” rating and upped their price target for the company from $75.00 to $82.00 in a research report on Monday, October 27th. Royal Bank Of Canada began coverage on Doximity in a report on Thursday, January 8th. They issued an “outperform” rating and a $59.00 price objective on the stock. Morgan Stanley upgraded Doximity from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $62.00 to $65.00 in a report on Monday, December 15th. Finally, Mizuho set a $45.00 price target on Doximity in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.39.

Doximity Trading Down 16.7%

DOCS opened at $27.75 on Friday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 27.75, a PEG ratio of 4.10 and a beta of 1.39. The stock has a 50-day moving average price of $42.69 and a 200-day moving average price of $56.69. Doximity has a 12-month low of $23.66 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts predict that Doximity will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Doximity

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in shares of Doximity by 148.9% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares in the last quarter. Root Financial Partners LLC purchased a new position in Doximity during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Doximity by 59.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Toth Financial Advisory Corp lifted its position in shares of Doximity by 150.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of Doximity by 136.9% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after purchasing an additional 356 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity News Summary

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Q3 results beat consensus on both revenue and EPS and the company highlighted record engagement and early AI product adoption — positives for long‑term monetization. Read More.
• Positive Sentiment: Board authorized a $500 million buyback (up to ~8% of shares), which signals management believes the stock is undervalued and should support shares over time. Read More.
• Positive Sentiment: Product recognition: Doximity ranked #1 in KLAS telehealth video platform for the 5th consecutive year — supportive for competitive positioning in telehealth and workflow products. Read More.
• Neutral Sentiment: Several sell‑side firms cut price targets (Truist, BTIG, Needham, Morgan Stanley) but largely kept buy/overweight ratings; JPMorgan moved to neutral with a lower target — analysts remain mixed on near‑term growth while some still see upside. Read More.
• Negative Sentiment: Management lowered FY26 revenue guidance and Q4 revenue guidance came in below Street expectations; guidance cut plus margin compression were cited as the main reasons for the sharp after‑hours decline. Read More.
• Negative Sentiment: Management flagged pharma budget delays and a cautious outlook that could weigh on near‑term revenue cadence; investors reacted to weaker forward visibility. Read More.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.