Doximity’s (DOCS) Buy Rating Reaffirmed at Needham & Company LLC

Doximity (NYSE:DOCS)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Friday, Benzinga reports. They presently have a $41.00 price target on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 23.04% from the company’s previous close.

Several other analysts have also recently commented on DOCS. Zacks Research upgraded Doximity from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Canaccord Genuity Group set a $36.00 price target on shares of Doximity in a research note on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $30.00 price target on shares of Doximity in a report on Friday, August 7th. Evercore set a $35.00 price objective on shares of Doximity in a research note on Tuesday, September 29th. Finally, Raymond James Financial restated an “outperform” rating and set a $38.00 price objective on shares of Doximity in a report on Friday, October 16th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.73.

Doximity Stock Down 3.9%

Shares of NYSE:DOCS opened at $33.32 on Friday. The company has a market cap of $5.94 billion, a P/E ratio of 39.20, a P/E/G ratio of 27.12 and a beta of 1.29. Doximity has a 52 week low of $17.15 and a 52 week high of $64.55. The business has a fifty day simple moving average of $28.95 and a 200-day simple moving average of $25.55.

Doximity (NYSE:DOCS) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%. The firm had revenue of $156.62 million for the quarter. During the same quarter last year, the company posted $0.36 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Doximity will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Siddharth Sitaram sold 2,613 shares of Doximity stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $30.68, for a total value of $80,166.84. Following the transaction, the chief accounting officer directly owned 101,432 shares of the company’s stock, valued at $3,111,933.76. The trade was a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kira Wampler sold 2,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $32.89, for a total value of $65,780.00. Following the sale, the director owned 27,923 shares of the company’s stock, valued at $918,387.47. The trade was a 6.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,750 shares of company stock valued at $386,310 in the last three months. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCS. Jefferies Financial Group Inc. increased its position in shares of Doximity by 526.3% in the third quarter. Jefferies Financial Group Inc. now owns 179,400 shares of the company’s stock worth $5,084,000 after acquiring an additional 150,755 shares in the last quarter. Riverbridge Partners LLC raised its stake in shares of Doximity by 7.9% in the 3rd quarter. Riverbridge Partners LLC now owns 303,539 shares of the company’s stock valued at $8,602,000 after acquiring an additional 22,320 shares during the period. Lido Advisors LLC purchased a new position in shares of Doximity in the 3rd quarter valued at $281,000. M&G PLC lifted its holdings in shares of Doximity by 96.4% during the 3rd quarter. M&G PLC now owns 577,196 shares of the company’s stock valued at $16,161,000 after acquiring an additional 283,296 shares in the last quarter. Finally, Fulcrum Asset Management LLP lifted its holdings in shares of Doximity by 17,401.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 66,857 shares of the company’s stock valued at $1,773,000 after acquiring an additional 66,475 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity News Roundup

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Fiscal Q2 revenue was $174.5 million, up 3.6% year over year and above estimates; earnings of $0.36 per share also beat consensus. Doximity forecast Q3 revenue of $195–$196 million and FY2027 revenue of $678–$683 million, both ahead of analyst expectations. Fiscal Q2 results
• Positive Sentiment: Management cited record engagement, a 51% adjusted EBITDA margin, and more than 190 health systems purchasing its AI suite. The earnings-call report also describes AI search as an eight-figure business, signaling potential to expand beyond Doximity’s established offerings. Q2 earnings call highlights
• Neutral Sentiment: Despite beating estimates, Doximity’s quarterly EPS declined from $0.45 a year earlier, while revenue growth was 3.6%. This slower year-over-year pace may help explain why the results did not reassure investors, despite the slightly higher-than-expected outlook. Sales beat estimates but shares faced pressure
• Negative Sentiment: Multiple law firms are publicizing a securities class action with a November 16 lead-plaintiff deadline. The complaint alleges Doximity overstated the Newsfeed product’s contribution to revenue growth and its competitive position; these claims have not been established in court. The litigation adds uncertainty. Class action deadline notice

About Doximity

Doximity, Inc operates a digital platform designed for medical professionals in the United States. Its network connects physicians, nurse practitioners, physician assistants, pharmacists and other healthcare professionals, providing tools for professional communication, collaboration and career development.

The company offers services including secure messaging, telehealth, digital faxing, physician scheduling and professional networking. Doximity also provides medical news and educational content, as well as recruiting and job-search resources for healthcare professionals.

Doximity generates additional revenue through digital marketing and engagement solutions for pharmaceutical companies, healthcare organizations and health systems.