Overweight -> Equal Weight
downgrade
$38 -> $20
Reason
Barclays downgraded Doximity to Equal Weight from Overweight with a price target of $20, down from $38. Growth in the digital advertising space is slowing while competition is ramping, the analyst tells investors in a research note. As such, Barclays expects industry growth to remain \"lackluster,\" keeping shares of Doximity and Phreesia range-bound. Digital marketing industry players have been reporting slower growth in the past couple of quarters, the firm says. It sees no sign of this easing.
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