Truist Financial Cuts Doximity (NASDAQ:DOCS) Price Target to $37.00

Doximity (NASDAQ:DOCS) had its target price trimmed by Truist Financial from $62.00 to $37.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

DOCS has been the subject of several other reports. Morgan Stanley raised shares of 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. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $62.00 price target on shares of Doximity in a report on Friday, October 10th. The Goldman Sachs Group upgraded Doximity from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Friday, January 9th. BMO Capital Markets started coverage on Doximity in a research report on Thursday, November 13th. They set a “market perform” rating and a $55.00 target price for the company. Finally, Bank of America raised Doximity from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $82.00 in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.39.

Doximity Stock Performance

Shares of DOCS stock opened at $27.75 on Friday. The stock has a 50 day moving average price of $42.69 and a 200 day moving average price of $56.65. Doximity has a 52-week low of $23.66 and a 52-week high of $85.21. The firm has a market capitalization of $5.23 billion, a P/E ratio of 27.75, a P/E/G ratio of 4.10 and a beta of 1.39.

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 business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. As a group, sell-side analysts forecast that Doximity will post 0.99 EPS for the current year.

Doximity announced that its board has authorized a share repurchase plan on Thursday, February 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCS. Royal Bank of Canada raised its position in shares of Doximity by 24.2% in the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after purchasing an additional 20,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Doximity by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after purchasing an additional 210 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after buying an additional 5,437 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after buying an additional 63,873 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Doximity during the first quarter worth $283,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Key Headlines Impacting Doximity

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.