KeyBanc analyst Scott Schoenhaus has revised the price target for Doximity (DOCS, Financial), bringing it down to $70 from the previous $83, while maintaining an Overweight rating on the stock. This adjustment comes as the firm prepares for the first quarter earnings report and considers the prevailing conditions in the healthcare information technology (HCIT) sector.
The focus within the HCIT industry is anticipated to be on major factors such as legislative policies, healthcare system utilization, and broader economic concerns, including potential inflationary pressures and a slowing economic climate. Despite these challenges, KeyBanc highlights that valuations in the HCIT space remain relatively low compared to the broader healthcare sector.
KeyBanc encourages investors to concentrate on companies that have the potential to meet or exceed expectations over the coming year. They emphasize that firms operating within more stable healthcare markets, particularly those serving payers and large pharmaceutical companies, present a lower revenue and earnings risk.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Doximity Inc (DOCS, Financial) is $74.35 with a high estimate of $90.00 and a low estimate of $55.00. The average target implies an upside of 39.68% from the current price of $53.23. More detailed estimate data can be found on the Doximity Inc (DOCS) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Doximity Inc's (DOCS, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Doximity Inc (DOCS, Financial) in one year is $54.95, suggesting a upside of 3.23% from the current price of $53.23. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Doximity Inc (DOCS) Summary page.
