Truist Financial Issues Pessimistic Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price target cut by investment analysts at Truist Financial from $62.00 to $37.00 in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 33.31% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group set a $48.00 price target on shares of Doximity in a report on Thursday, January 8th. Morgan Stanley upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $62.00 to $65.00 in a report on Monday, December 15th. Mizuho set a $45.00 target price on Doximity in a research note on Wednesday. The Goldman Sachs Group upgraded Doximity from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a report on Friday, January 9th. Finally, KeyCorp dropped their price target on shares of Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Doximity has a consensus rating of “Moderate Buy” and an average price target of $51.39.

Doximity Stock Performance

NASDAQ:DOCS opened at $27.75 on Friday. The business’s fifty day moving average is $42.69 and its 200 day moving average is $56.68. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 27.75, a PEG 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 issued its quarterly earnings data on Thursday, February 5th. The company reported $0.46 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%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. Equities analysts predict that Doximity will post 0.99 EPS for the current fiscal year.

Doximity declared that its Board of Directors has authorized a stock buyback program on Thursday, February 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Doximity

Institutional investors have recently bought and sold shares of the stock. Synergy Asset Management LLC increased its position in shares of Doximity by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 604,502 shares of the company’s stock valued at $44,219,000 after purchasing an additional 302,251 shares during the last quarter. Liontrust Investment Partners LLP increased its position in Doximity by 1,189.9% during the second quarter. Liontrust Investment Partners LLP now owns 272,065 shares of the company’s stock valued at $16,688,000 after acquiring an additional 250,973 shares during the last quarter. Aubrey Capital Management Ltd purchased a new stake in shares of Doximity in the third quarter valued at $4,572,000. SG Americas Securities LLC lifted its holdings in shares of Doximity by 335.9% in the 3rd quarter. SG Americas Securities LLC now owns 52,993 shares of the company’s stock worth $3,876,000 after acquiring an additional 40,837 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Doximity in the 2nd quarter worth about $1,628,000. 87.19% of the stock is owned by institutional investors.

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.

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.