Stock Buyback Program Approved by Doximity (NASDAQ:DOCS)

Doximity (NASDAQ:DOCS) declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho set a $45.00 price target on shares of Doximity in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Doximity from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Friday, January 9th. Wells Fargo & Company raised 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 research note on Tuesday, January 20th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $62.00 price objective on shares of Doximity in a research note on Friday, October 10th. Finally, KeyCorp cut their target price on Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.95.

Doximity Stock Performance

NASDAQ:DOCS traded down $1.95 on Thursday, reaching $33.30. The company’s stock had a trading volume of 9,431,108 shares, compared to its average volume of 3,212,373. Doximity has a 1-year low of $32.66 and a 1-year high of $85.21. The business’s 50-day moving average price is $43.16 and its two-hundred day moving average price is $56.92. The firm has a market cap of $6.27 billion, a PE ratio of 33.30, a PEG ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.Doximity’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts expect that Doximity will post 0.99 EPS for the current year.

Key Stories Impacting Doximity

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Q3 results beat consensus on both EPS and revenue: $0.46 EPS (vs. ~$0.45) and roughly $185.1M revenue (up ~10% YoY), with strong profitability (net margin ~36.6%). This shows the core business remains profitable and growing. Doximity Announces Fiscal 2026 Third Quarter Financial Results
• Positive Sentiment: User engagement and product traction remain healthy: the company highlighted record engagement (over 1M quarterly active prescribers) and a sequential jump in workflow-product users, indicating demand for its clinical workflow and professional network offerings. Doximity Announces Fiscal 2026 Third Quarter Financial Results
• Neutral Sentiment: Analyst write-ups dig into metric details (growth rates, engagement vs. estimates) that can guide revisions; they confirm the quarter beat but focus investor attention on forward trends. Here’s What Key Metrics Tell Us About Doximity (DOCS) Q3 Earnings
• Negative Sentiment: Management’s forward guidance disappointed: Q4 revenue was guided to ~$143.0–$144.0M vs. consensus near $150.2M, and FY26 revenue guidance (~$642.5–$643.5M) was marginally below Street estimates — the guidance miss is the main driver of the sell-off. Doximity Announces Fiscal 2026 Third Quarter Financial Results
• Negative Sentiment: Market reaction was sharp: shares plunged after-hours and trading volume spiked as investors sold into the weaker guidance despite the quarter’s beats. Momentum and multiple compression are likely contributors to today’s downside. Doximity Stock Is Collapsing After Hours: Here’s Why

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.