Morgan Stanley has revised its price target for Doximity (DOCS, Financial) from $71 to $60, maintaining an Equal Weight rating on the shares. This adjustment follows the firm’s assessment that anticipates a 10% year-over-year growth in the marketing segment for digital healthcare professionals by 2025—a figure that exceeds Doximity's own predictions of 5-7%, as expressed during their last earnings call on February 6.
While the near-term outlook for Doximity appears positive, aligning with market expectations, broader macroeconomic challenges have emerged. Pharmaceutical companies are currently grappling with uncertainties related to tariffs and potential disruptions at the FDA. These issues are contributing to a less clear forecast for the latter part of the year, as highlighted by the analyst in anticipation of Doximity's upcoming fiscal Q4 earnings announcement.
