BTIG Research Has Lowered Expectations for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its target price reduced by analysts at BTIG Research from $80.00 to $50.00 in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 80.15% from the company’s previous close.

DOCS has been the topic of several other reports. 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 price target on the stock. Piper Sandler decreased 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $62.00 target price on shares of Doximity in a report on Friday, October 10th. Wells Fargo & Company raised shares of Doximity from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $65.00 to $55.00 in a report on Tuesday, January 20th. Finally, Evercore restated an “outperform” rating on shares of Doximity in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.39.

Doximity Trading Down 16.7%

DOCS stock opened at $27.75 on Friday. The firm’s 50-day moving average is $42.69 and its two-hundred day moving average is $56.68. 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. Doximity has a 52 week low of $23.66 and a 52 week high of $85.21.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data 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 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Doximity will post 0.99 earnings per share for the current year.

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

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its holdings in shares of Doximity by 932.8% in the 3rd quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock valued at $114,267,000 after purchasing an additional 1,415,882 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Doximity by 325,436.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after purchasing an additional 1,298,492 shares during the period. Franklin Resources Inc. grew its position in Doximity by 53.9% during the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after purchasing an additional 1,108,162 shares in the last quarter. Capital World Investors grew its position in Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after purchasing an additional 1,101,848 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Doximity by 525.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,096,965 shares of the company’s stock valued at $80,243,000 after buying an additional 921,533 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Key Stories 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.