Doximity (NASDAQ:DOCS) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

JPMorgan Chase & Co. upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat reports. The firm currently has $40.00 price target on the stock, down from their previous price target of $62.00.

Other analysts have also issued reports about the stock. The Goldman Sachs Group raised 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. KeyCorp dropped their price objective 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. Royal Bank Of Canada assumed coverage on shares of Doximity in a research note on Thursday, January 8th. They set an “outperform” rating and a $59.00 target price for the company. Wells Fargo & Company upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $65.00 to $55.00 in a report on Tuesday, January 20th. Finally, Evercore reaffirmed an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.39.

Doximity Trading Down 16.7%

Shares of DOCS stock opened at $27.75 on Friday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 4.10 and a beta of 1.39. Doximity has a 1-year low of $23.66 and a 1-year high of $85.21. The stock’s fifty day simple moving average is $42.69 and its 200-day simple moving average is $56.69.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping 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%.During the same period in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Doximity will post 0.99 EPS for the current year.

Doximity announced that its board has initiated a stock repurchase plan on Thursday, February 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Doximity by 59.5% during the 3rd 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 raised its stake in shares of 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 lifted its holdings 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 last quarter. Fairvoy Private Wealth LLC lifted its holdings in Doximity by 1.1% in 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

More 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.