JPMorgan Chase & Co. Lowers Doximity (NYSE:DOCS) Price Target to $28.00

Key Points

• JPMorgan Chase & Co. cut Doximity’s price target from $33 to $28 while keeping a neutral rating, even though the revised target still implies upside from the prior close.
• Several other analysts also lowered their targets or turned more cautious, and the broader consensus now stands at a “Moderate Buy” with an average target price of $31.48.
• Doximity’s shares fell sharply to $17.46, near their 52-week low, as investors reacted to the weaker outlook and a series of recent analyst revisions.

Doximity (NYSE:DOCS - Get Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $33.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 60.38% from the company's previous close.

Several other brokerages also recently commented on DOCS. Robert W. Baird reaffirmed a "neutral" rating and set a $18.00 target price (down from $40.00) on shares of Doximity in a report on Thursday. BMO Capital Markets reduced their target price on Doximity from $25.00 to $20.00 and set a "market perform" rating for the company in a report on Thursday. Bank of America reduced their price target on shares of Doximity from $56.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Needham & Company LLC reduced their price target on shares of Doximity from $55.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group downgraded shares of Doximity from a "buy" rating to a "hold" rating and set a $19.00 price target for the company. in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.48.

Doximity Stock Performance

DOCS stock traded down $5.93 on Thursday, hitting $17.46. 17,685,978 shares of the company's stock traded hands, compared to its average volume of 3,604,347. Doximity has a 1-year low of $17.15 and a 1-year high of $76.51. The firm has a market cap of $3.22 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36. The stock's fifty day moving average is $24.27.

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

Insider Activity

In other Doximity news, insider Siddharth Sitaram sold 2,309 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.77, for a total value of $59,502.93. Following the completion of the sale, the insider owned 89,396 shares in the company, valued at $2,303,734.92. This represents a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Scherer Wampler sold 9,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the sale, the director owned 19,839 shares of the company's stock, valued at approximately $517,004.34. The trade was a 31.21% 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. Over the last three months, insiders sold 18,055 shares of company stock valued at $456,061. Company insiders own 31.30% of the company's stock.

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after acquiring an additional 518,916 shares in the last quarter. Aubrey Capital Management Ltd bought a new position in shares of Doximity in the 3rd quarter valued at approximately $4,572,000. UBS Group AG raised its stake in shares of Doximity by 26.5% in the 4th quarter. UBS Group AG now owns 680,260 shares of the company's stock valued at $30,122,000 after acquiring an additional 142,408 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Doximity by 1,990.7% in the 3rd quarter. Blair William & Co. IL now owns 362,740 shares of the company's stock valued at $26,534,000 after acquiring an additional 345,390 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Doximity by 11.7% in the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company's stock valued at $426,404,000 after acquiring an additional 609,775 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

More Doximity News

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity reported adjusted EPS of $0.26, which topped a lower analyst estimate of $0.17, and revenue rose 5.1% year over year to $145.37 million, showing the business is still growing. Doximity Earnings Report
• Positive Sentiment: Management said AI tool adoption and growth in larger customers helped engagement, and the company highlighted record free cash flow and continued AI integration efforts. Doximity Q4 2026 Earnings Call Highlights
• Neutral Sentiment: Wall Street analysts responded by cutting price targets, but most kept neutral-to-positive ratings, suggesting the stock may be viewed as oversold rather than fundamentally broken. Analyst Price Target Updates
• Negative Sentiment: The bigger concern is that Doximity’s fiscal 2027 revenue guidance of $664 million to $676 million came in below the $696 million consensus, pointing to a slower growth outlook than investors wanted. Doximity Q4 2026 Earnings Call Transcript
• Negative Sentiment: First-quarter fiscal 2027 revenue guidance of $151 million to $152 million also missed expectations, reinforcing worries that growth is slowing and AI-related investment is pressuring margins. Doximity plunges on weak guidance
• Negative Sentiment: Additional sentiment pressure came from unusual put buying and a disclosed insider share sale, both of which can signal caution among traders. Insider Trade Disclosure

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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