"Mizuho lowered its price target on Inc () to $26 from $34 on Thursday while maintaining a Neutral rating on the shares. The stock currently trades at $23.39, down 53% over the past six months and 47% year-to-date. The firm cited the company's more muted growth outlook for fiscal year 2027 as the reason for the price target reduction."
"Doximity issued new fiscal 2027 revenue guidance of $664 million to $676 million, implying growth of approximately 3% to 5%, which falls well below the Street's current expectation of $699 million. Mizuho noted that the company's fourth-quarter fiscal 2026 results were slightly above management's previous guidance. Management had previously expected the pharmaceutical digital marketing industry to grow around 5% in calendar year 2026 and for Doximity to exit calendar 2026 with double-digit revenue growth, which now appears less likely based on the new fiscal 2027 guidance."
"According to InvestingPro data, 17 analysts have revised their earnings downwards for the upcoming period, while the platform's Fair Value analysis suggests the stock remains undervalued at current levels. The firm said management noted that reduced pharmaceutical digital marketing spend continues due to ongoing macro uncertainty. This negative industry trend is consistent with commentary from peers in the sector."
"Mizuho trimmed its fiscal 2027 earnings per share estimate for Doximity to $1.51 from $1.62 and its fiscal 2028 estimate to $1.75 from $1.81. In other recent news, Doximity Inc reported its fiscal fourth-quarter 2026 results, revealing revenue of $145.4 million, which marked a 5.1% increase year-over-year and surpassed both analyst estimates and company guidance. However, the company provided fiscal 2027 guidance that did not meet market expectations, l"
Mizuho lowered its price target on Doximity to $26 from $34 while maintaining a Neutral rating. The stock trades at $23.39 and has fallen sharply over recent periods. The change reflects a more muted fiscal 2027 growth outlook. Doximity’s fiscal 2027 revenue guidance of $664 million to $676 million implies about 3% to 5% growth, below the Street’s expectation of $699 million. Fourth-quarter fiscal 2026 results were slightly above prior guidance, but updated fiscal 2027 guidance makes earlier assumptions about industry growth and double-digit revenue growth less likely. Reduced pharmaceutical digital marketing spend persists amid macro uncertainty, and multiple analysts have revised earnings downward. Mizuho also reduced fiscal 2027 and 2028 EPS estimates.
Read at Investing.com Australia
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