Needham & Company LLC Cuts Doximity (NASDAQ:DOCS) Price Target to $55.00

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

Other research analysts have also recently issued research reports about the company. Piper Sandler lowered their price objective on Doximity from $70.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank Of Canada assumed coverage on shares of Doximity in a research report on Thursday, January 8th. They set an “outperform” rating and a $59.00 price target on the stock. Mizuho set a $45.00 price objective on shares of Doximity in a research note on Wednesday. Bank of America upgraded shares of Doximity from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $82.00 in a research report on Monday, October 27th. Finally, The Goldman Sachs Group raised shares of Doximity from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Doximity currently has an average rating of “Moderate Buy” and an average price target of $51.39.

Doximity Stock Down 16.7%

Shares of DOCS stock opened at $27.75 on Friday. Doximity has a 12-month low of $23.66 and a 12-month high of $85.21. The company has a market capitalization of $5.23 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The firm has a 50 day moving average price of $42.69 and a two-hundred day moving average price of $56.65.

Doximity (NASDAQ:DOCS) last announced 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 business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, research analysts expect that Doximity will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Doximity during the third quarter valued at approximately $30,000. Hantz Financial Services Inc. increased its stake in shares of 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 purchasing an additional 271 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Doximity by 59.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after buying an additional 179 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Doximity by 150.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after buying an additional 300 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its position in shares of Doximity by 136.9% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock worth $45,000 after buying an additional 356 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity News Roundup

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.