Doximity Inc (NYSE:DOCS) on Wednesday reported mixed fourth-quarter financial results and issued weak first-quarter sales guidance.

Doximity, which operates an online networking service for medical professionals, reported fourth-quarter revenue of $145.4 million, beating analyst estimates of $144.08 million, according to Benzinga Pro. Revenue was up 5% on a year-over-year basis. The company reported adjusted earnings of 26 cents per share for the quarter, missing estimates of 28 cents per share.

"We're thrilled to announce that we reached a new engagement record of over 800,000 active prescribers using our workflow tools in Q4. Nearly half of those providers used our clinical AI last quarter, while our prompts per user nearly doubled from January to April alone," said Jeff Tangney, co-founder and CEO of Doximity.

Despite the optimistic commentary, Doximity guided for first-quarter revenue of $151 million to $152 million, versus estimates of $153.7 million. The company also guided for fiscal 2027 revenue of $664 million to $676 million, versus estimates of $697.6 million.

Doximity shares dipped 21.3% to $18.42 in pre-market trading.

These analysts made changes to their price targets on Doximity following earnings announcement.

  • Baird analyst Vikram Kesavabhotla downgraded the stock from Outperform to Neutral and cut the price target from $40 to $18.
  • Needham analyst Ryan MacDonald maintained Doximity with a Buy and lowered the price target from $55 to $27.
  • Morgan Stanley analyst Ricky Goldwasser maintained the stock with an Overweight rating and lowered the price target from $49 to $35.
  • Mizuho analyst Steven Valiquette maintained the stock with a Neutral and lowered the price target from $34 to $26.
  • BMO Capital analyst Sean Dodge maintained the stock with a Market Perform and lowered the price target from $25 to $20.
  • Wells Fargo analyst Stan Berenshteyn downgraded Doximity from Overweight to Equal-Weight and lowered the price target from $32 to $18.

Considering buying DOCS stock? Here’s what analysts think:

Photo via Shutterstock