BUZZ-Doximity slides on forecasting fiscal 2027 revenue below expectations

Doximity, Inc. Class A

Doximity, Inc. Class A

DOCS

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** Shares of Doximity DOCS.N fall 20.6% to $18.58 premarket

** Telehealth co late on Wednesday forecast fiscal 2027 revenue between $664 million and $676 million, below Wall Street estimates of $688.9 million - LSEG

** DOCS's Q4 revenue of $145.4 million beats estimate of $144.1 million

** Co's Q4 adj EPS of 26 cents misses estimate of 28 cents

** "Lowering our PT to $27 on DOCS after our fears of the company's growth rate slowing to be more inline with broader market growth were realized" - brokerage Needham

** "DOCS 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" - Needham

** At least two brokerages cut their PTs on DOCS

** Up to last close, stock down 47.2% YTD


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