Doximity (NYSE:DOCS) Downgraded to Hold Rating by Robert W. Baird

Posted by George Bondi on May 15th, 2026

Robert W. Baird cut shares of Doximity (NYSE:DOCS – Free Report) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their target price on Doximity from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Freedom Capital upgraded Doximity to a “strong-buy” rating in a report on Tuesday, March 17th. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a report on Thursday. Needham & Company LLC lowered their target price on Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday. Finally, Bank of America lowered their target price on Doximity from $56.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and an average price target of $30.62.

View Our Latest Stock Analysis on DOCS

Doximity Stock Down 23.3%

Shares of DOCS stock opened at $17.94 on Thursday. Doximity has a twelve month low of $17.15 and a twelve month high of $76.51. The stock has a market cap of $3.31 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.66 and a beta of 1.36. The stock has a fifty day moving average price of $24.09.

Doximity announced that its Board of Directors has authorized a share repurchase program on Thursday, February 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 9,000 shares of the company’s stock in a transaction 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 directly owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,309 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.77, for a total value of $59,502.93. Following the sale, the insider owned 89,396 shares of the company’s stock, valued at $2,303,734.92. This trade represents a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 18,055 shares of company stock valued at $456,061 over the last 90 days. 31.30% of the stock is currently owned by company insiders.

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 business. Entropy Technologies LP raised its stake in Doximity by 11.9% in the first quarter. Entropy Technologies LP now owns 51,414 shares of the company’s stock valued at $1,198,000 after buying an additional 5,476 shares during the last quarter. Senvest Management LLC purchased a new stake in Doximity in the first quarter valued at about $296,000. Renaissance Technologies LLC raised its stake in Doximity by 29.4% in the first quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock valued at $71,292,000 after buying an additional 694,300 shares during the last quarter. Caxton Associates LLP purchased a new stake in Doximity in the first quarter valued at about $1,809,000. Finally, Bank of Nova Scotia purchased a new stake in Doximity in the first quarter valued at about $10,130,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Doximity

Here are the key news stories impacting Doximity this week:

Positive Sentiment: Doximity reported adjusted earnings of $0.26 per share, topping the 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 highlighted ongoing AI investment and strong cash generation, which could support longer-term product growth if monetization improves. Doximity Earnings Call
Neutral Sentiment: Truist maintained a Hold rating while lowering its target to $19, signaling caution but not a full bearish call. Truist Hold Rating
Neutral Sentiment: Several firms also trimmed price targets, including JPMorgan to $28, Needham to $27, Mizuho to $26, and BMO to $20, reflecting more conservative expectations after earnings. JPMorgan Price Target Cut
Negative Sentiment: Doximity missed the broader earnings consensus, posting $0.26 per share versus expectations for $0.28, which likely disappointed traders looking for a cleaner beat. Doximity Lags Q4 Earnings Estimates
Negative Sentiment: More importantly, first-quarter FY2027 revenue guidance of $151 million to $152 million and full-year FY2027 revenue guidance of $664 million to $676 million both came in below Wall Street estimates, pointing to a softer outlook. Doximity Q4 2026 Earnings Call Transcript
Negative Sentiment: Analyst sentiment deteriorated further, with BTIG downgrading the stock and multiple firms cutting targets, adding to concerns about slowing growth and margin pressure from AI spending. BTIG Downgrades Doximity
Negative Sentiment: Investors also noted an insider share sale and heavy put-option activity, which may be reinforcing the bearish tone around the stock. Insider Sale Disclosure

About Doximity

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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.