Needham & Company LLC Issues Pessimistic Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price objective decreased by analysts at Needham & Company LLC from $75.00 to $55.00 in a report issued on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 98.17% from the company’s previous close.

A number of other research firms have also commented on DOCS. Barclays initiated coverage on shares of Doximity in a research note on Monday, December 8th. They issued an “overweight” rating and a $63.00 price objective on the stock. Royal Bank Of Canada started coverage on Doximity in a research report on Thursday, January 8th. They set an “outperform” rating and a $59.00 price objective for the company. Piper Sandler dropped their target price on Doximity from $70.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley upgraded Doximity from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $62.00 to $65.00 in a research note on Monday, December 15th. Finally, Bank of America upgraded shares of Doximity from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $82.00 in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.39.

Doximity Stock Down 16.7%

NASDAQ:DOCS opened at $27.75 on Friday. The company has a market capitalization of $5.23 billion, a PE ratio of 27.75, a P/E/G 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. The stock’s 50 day moving average price is $42.69 and its 200 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%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. As a group, sell-side analysts anticipate that Doximity will post 0.99 EPS for the current fiscal year.

Doximity announced that its board has authorized a share 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 buy up to 8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Doximity

A number of institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC raised its position in shares of Doximity by 15.4% during the 4th 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 last quarter. Leonteq Securities AG purchased a new position in Doximity during the fourth quarter worth $78,000. GSA Capital Partners LLP acquired a new position in shares of Doximity in the fourth quarter worth $1,095,000. North Dakota State Investment Board acquired a new position in shares of Doximity in the fourth quarter worth $206,000. Finally, Abacus Wealth Partners LLC purchased a new stake in shares of Doximity in the fourth quarter valued at $223,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity News Summary

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.