Needham & Company LLC Issues Pessimistic Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price target reduced by analysts at Needham & Company LLC from $75.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 65.17% from the company’s current price.

A number of other research analysts have also issued reports on DOCS. Morgan Stanley upgraded Doximity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $62.00 to $65.00 in a research report on Monday, December 15th. Wells Fargo & Company raised Doximity from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $65.00 to $55.00 in a research note on Tuesday, January 20th. Canaccord Genuity Group set a $48.00 target price on shares of Doximity in a research note on Thursday, January 8th. KeyCorp dropped their target price on Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Finally, Truist Financial lowered their target price on Doximity from $62.00 to $37.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.47.

Doximity Stock Performance

Shares of DOCS opened at $33.30 on Friday. Doximity has a one year low of $32.66 and a one year high of $85.21. The stock has a 50-day moving average price of $43.16 and a 200 day moving average price of $56.92. The company has a market capitalization of $6.27 billion, a P/E ratio of 33.30, a P/E/G ratio of 4.10 and a beta of 1.39.

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

Doximity declared that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOCS. Hantz Financial Services Inc. boosted its stake in Doximity by 148.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock valued at $28,000 after buying an additional 271 shares in the last quarter. Root Financial Partners LLC bought a new stake in Doximity during the 3rd quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Doximity by 59.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Doximity by 150.0% during the third quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in shares of Doximity by 136.9% during the third quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after purchasing an additional 356 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Trending Headlines about Doximity

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity announced a $500 million share buyback authorization (about 8% of shares outstanding), a signal the board views the stock as undervalued and a potential support for the equity over time. RTT News
• Positive Sentiment: Operational engagement metrics were highlighted as strong: record workflow-product adoption (720,000 users QoQ jump) and 1M+ quarterly active prescribers; early AI products show user traction — positive for long‑term monetization. Business Wire
• Positive Sentiment: Doximity was ranked #1 Best in KLAS Telehealth Video Platform for the fifth consecutive year — supportive for competitive positioning in telehealth workflows. 01net
• Neutral Sentiment: Q3 results: revenue $185.05M (+~10% YoY) and EPS $0.46, both slightly above consensus — beats were modest rather than transformative. Analysts are digging into key metrics for guidance implications. Benzinga
• Neutral Sentiment: A full earnings/management transcript is available for deeper read on product cadence, sales dynamics, and AI roadmap for investors wanting color beyond the headlines. Seeking Alpha transcript
• Negative Sentiment: Management lowered Q4 and FY2026 revenue guidance: Q4 $143.0M–$144.0M vs. consensus ~$150.2M and FY revenue guided slightly below consensus (~$642.5M–$643.5M vs. ~$645.3M). The softer outlook was the primary catalyst for a sharp after‑hours selloff. Business Wire guidance
• Negative Sentiment: Market reaction: shares plunged heavily after the print and guidance miss, reflecting investor sensitivity to near‑term growth deceleration despite buyback and solid engagement metrics. MSN market coverage

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.