Needham analyst Scott Berg lowered the firm’s price target on Doximity (DOCS) to $27 from $55 and keeps a Buy rating on the shares after its Q4 earnings miss. The firm notes that its fears of the company’s growth rate slowing to be more in line with broader market growth were realized as the management also issued an FY27 guide that was below consensus estimates, the analyst tells investors in a research note. Doximity is using FY27 as a time to ramp its investment in AI as the company looks to unlock incremental budget with its new AI Search offering for pharma, the firm added.
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