On January 20, 2026, Wells Fargo analyst Stan Berenshteyn upgraded Doximity, Inc. (DOCS) from Neutral to Overweight, citing significant upside potential as the stock trades at $41.10 with a target price of $55. This change signals a bullish outlook for investors as the company continues to expand its footprint in the healthcare technology sector amidst evolving market dynamics.
Recent Price Action
Doximity’s stock has experienced notable fluctuations recently, displaying a slight decline of $0.155, or 0.38%, in the last trading session. The stock’s current price of $41.10 places it considerably above its 52-week low of $2.88 but still short of its 52-week high of approximately $51.77. The recent trading volume indicated heightened investor interest, with 2,643,243 shares exchanged compared to its average volume of 2,496,901 shares. This uptick in activity, combined with a beta of 1.391, suggests that DOCS is more volatile than the broader market, reflecting both investor sentiment and potential risk as it navigates current market conditions.
Short- and Long-Term Performance
In the last month, Doximity has faced challenges, with a decline of 6.16%. This trend worsened over the last three months, with shares down 38.96%, and the stock is off 19.05% year-over-year. While volatility measures show a weekly volatility of 3.98% and monthly volatility of 3.42%, these figures indicate that the stock can swing sharply in response to broader market trends or company-specific news. The increasing average volume of the last 10 days suggests that investors are closely monitoring developments, potentially indicating an opportunity for those watching for a rebound.
Earnings and Financials
In its most recent earnings report released on November 6, 2025, Doximity posted an earnings per share (EPS) of $0.45, beating the consensus estimate of $0.38 by an impressive 18.42%. This outperformance follows a previous quarter where the company exceeded expectations with an EPS of $0.36 compared to the estimated EPS of $0.3016, reflecting a surprise factor of nearly 19.36%. Such consistent positive surprises indicate strong operational execution and may signal stronger-than-expected demand for its digital services among healthcare professionals.
Analyst Consensus View
The current analyst consensus for Doximity is decidedly bullish, with the recent upgrade from Wells Fargo contributing to an overall strong sentiment. Out of a total of eight ratings, six analysts assign a “Buy” rating, while two consider it a “Hold.” Notably, there are no “Sell” ratings currently on record. The average price target stands at $64.50, suggesting a significant potential upside from its current trading price, highlighting positive expectations for growth and future profitability. The consensus target price is as low as $55 and as high as $75, underscoring divergent views on future performance while maintaining a generally favorable outlook.
Stock Grading and Fundamental View
Doximity received a Stocks Telegraph grading score of 57, indicating a moderately positive investment outlook based on various financial health indicators and market analysis. This score reflects Doximity’s robust fundamentals, ongoing innovation in the digital healthcare space, and its strategic positioning within the industry. Investors may view this score favorably, considering it highlights a company with potential growth opportunities amidst a rapidly changing market landscape.
Conclusion
For investors considering Doximity, the recent upgrade to Overweight by Wells Fargo presents a compelling case for potential gains. With solid earnings performance, an attractive target price, and strong analyst support, the stock may appeal particularly to those looking for long-term growth opportunities within the tech-driven healthcare sector. However, risks remain, especially given recent volatility and underperformance in shorter timeframes. Investors should remain vigilant, monitoring developments as Doximity continues to navigate through its evolving landscape while capitalizing on emerging opportunities.