Doximity price target lowered to $25 from $37 at Wells Fargo

Wells Fargo analyst Stan Berenshteyn lowered the firm’s price target on Doximity to $25 from $37 and keeps an Equal Weight rating on the shares. Following the company’s fiscal Q1 report and revenue guidance for this year now implying 10% top-line growth, the firm expects shares to remain pressured from low visibility and unclear timing of the company’s strategy pivots, says the firm. Wells adds that it thinks the company’s reiterated long-term guidance “needs a reset.”