In a report released today, Craig Hettenbach from Morgan Stanley maintained a Hold rating on Doximity, with a price target of $60.00.
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Craig Hettenbach has given his Hold rating due to a combination of factors surrounding Doximity’s current market position and future prospects. While the company is experiencing positive momentum in healthcare professional marketing, particularly with its video modules and sales efforts, there are macroeconomic uncertainties that could impact future growth. The potential for changes in advertising budgets in the latter half of the year, influenced by broader economic factors such as tariffs and drug pricing policies, adds a layer of unpredictability.
Additionally, while Doximity is expected to outperform the overall market with its digital ad spend growth, the conservative guidance for fiscal year 2026 reflects caution amidst these uncertainties. The company’s ability to maintain premium pricing and minimum spend requirements is a positive sign, yet the recent management changes and the need for clarity on digital ad spending and AI adoption further contribute to the Hold rating. Investors are keenly watching how these factors will play out in the upcoming earnings report and whether any adjustments will be made to future guidance.
According to TipRanks, Hettenbach is a 3-star analyst with an average return of 2.6% and a 53.26% success rate.
In another report released on July 28, Bank of America Securities also reiterated a Hold rating on the stock with a $62.00 price target.