Doximity price target lowered to $47 from $56 at BofA

BofA lowered the firm’s price target on Doximity (DOCS) to $47 from $56 and keeps a Buy rating on the shares. The firm’s sixteenth quarterly survey on pharma advertising had “mixed, but somewhat positive takeaways,” the analyst reported. Doximity specifics were “also mixed-to-positive,” with the strongest outlook for overall spend growth in the history of the survey, but a notably weaker outlook on Doximity’s fast growing point of care module, adds the analyst, who lowered the firm’s revenue estimate for FY27 and target EBITDA multiple as visibility into an accelerated shift in spend to HCP channels is more limited.