Doximity (NASDAQ:DOCS) Stock Rating Upgraded by JPMorgan Chase & Co.

Doximity (NASDAQ:DOCS) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the stock, down from their prior price objective of $62.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 44.12% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays began coverage on Doximity in a research note on Monday, December 8th. They issued an “overweight” rating and a $63.00 target price for the company. BTIG Research decreased their price target on Doximity from $80.00 to $50.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets began coverage on Doximity in a report on Thursday, November 13th. They set a “market perform” rating and a $55.00 price objective for the company. Piper Sandler reduced their target price on shares of Doximity from $70.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group upgraded shares of Doximity from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Friday, January 9th. 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 data from MarketBeat, Doximity has a consensus rating of “Moderate Buy” and a consensus target price of $51.39.

Doximity Stock Down 16.7%

Shares of NASDAQ:DOCS opened at $27.75 on Friday. The firm has a market cap 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 has a 12 month low of $23.66 and a 12 month high of $85.21. The company’s 50-day moving average price is $42.69 and its two-hundred day moving average price is $56.68.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share (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%. Doximity’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. As a group, equities analysts predict that Doximity will post 0.99 earnings per share for the current fiscal year.

Doximity declared that its Board of Directors has initiated a share buyback program on Thursday, February 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Doximity

A number of hedge funds have recently modified their holdings of DOCS. Whittier Trust Co. of Nevada Inc. increased its position in shares of Doximity by 59.5% during 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 in the last quarter. Louisiana State Employees Retirement System lifted its position in Doximity by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the company’s stock valued at $2,306,000 after acquiring an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Doximity by 0.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company’s stock worth $2,012,000 after purchasing an additional 200 shares during the period. Fairvoy Private Wealth LLC increased its holdings in Doximity by 1.1% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 19,253 shares of the company’s stock worth $1,408,000 after purchasing an additional 206 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Doximity by 0.5% in 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 during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Key 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.