Doximity (NASDAQ:DOCS) Price Target Lowered to $50.00 at BTIG Research

Doximity (NASDAQ:DOCS) had its price objective decreased by BTIG Research from $80.00 to $50.00 in a research report sent to investors on Friday morning, MarketBeat reports. BTIG Research currently has a buy rating on the stock.

Several other analysts also recently weighed in on DOCS. Mizuho set a $45.00 target price on Doximity in a research note on Wednesday. Barclays assumed coverage on Doximity in a research note on Monday, December 8th. They set an “overweight” rating and a $63.00 price objective for the company. Truist Financial dropped their price objective on Doximity from $62.00 to $37.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler reduced their target price on Doximity from $70.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $65.00 to $55.00 in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.39.

Doximity Stock Down 16.7%

Shares of NASDAQ:DOCS opened at $27.75 on Friday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The company has a 50 day moving average of $42.69 and a two-hundred day moving average of $56.69. Doximity has a 52-week low of $23.66 and a 52-week high of $85.21.

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

Doximity announced that its board has initiated a stock buyback plan on Thursday, February 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Doximity

A number of hedge funds have recently added to or reduced their stakes in the business. Legato Capital Management LLC raised its holdings in shares of Doximity by 15.4% during the fourth quarter. Legato Capital Management LLC now owns 5,397 shares of the company’s stock worth $239,000 after purchasing an additional 722 shares during the period. Leonteq Securities AG acquired a new stake in Doximity during the fourth quarter worth about $78,000. GSA Capital Partners LLP bought a new position in Doximity in the fourth quarter worth about $1,095,000. North Dakota State Investment Board acquired a new position in Doximity in the fourth quarter valued at approximately $206,000. Finally, Abacus Wealth Partners LLC acquired a new position in Doximity in the fourth quarter valued at approximately $223,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

More Doximity News

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.

About Doximity

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.