Piotr Swat | lightrocket | Getty Images
Doximity The day after the company reported, shares rose more than 30% last Friday. Financial third quarter results This beat Wall Street’s expectations of revenue and guidance.
Doximity is a digital platform for healthcare professionals that can help them conduct telehealth appointments with patients, find recommendations, keep up to date with medical news and more. The company’s revenue rose to $168.6 million in the third quarter, up from $135.3 million a year ago.
Doximity said it expects to report revenue between $135 million and $133.5 million in its fourth quarter, while analysts expect $123.8 million. The company also provided guidance throughout the fiscal year and said it expects revenue to be between $566 million and $565.6 million.
Doximity’s adjusted EBITDA was $102 million, up 39% year-on-year.
Analysts at Morgan Stanley raised the stock’s price target from $53 to $71, saying it was made up of higher growth and strong growth and strong effects by EBITDA. Analysts added that Doximity reported “impressive incremental edges.”
“This is a quarterly statement type, and Doximity shows separation in more than 2 times the market growth,” analysts wrote in a note on Friday.
Bank of America analysts say Doximity is “very powerful.” They say the company’s growth rate benefits from simple comparables, the launch of its customer portal, the gradient of new products and its election spending.
Analysts say that while Doximity may have a higher revenue growth rate in fiscal 2026, the company is growing faster than the digital advertising market in the long run. They reiterated their neutral ratings for the stock, but raised their target from $63 to $75.
“Doximity is accelerating its share growth compared to its peers, due to strong contributions from new products and some biases in its new customer portal,” Bank of America analysts said in a note on Friday.
Analysts at Leerink Partners upgraded the stock to outperform the market and raised their target from $60 to $90. They said they saw a continuation of the core growth trend.
“In short, we’ve hit the trend as we see upside room at the baseline and many green shots (new products, AI Investments, the aforementioned portal) have contributed to the ongoing growth,” the analyst wrote. .”
