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doximity Shares rose 36% on Friday. This is the day after the company reported its fiscal third quarter results that beat Wall Street’s expectations for revenue and guidance.
Doximity is a digital platform for healthcare professionals that helps you perform patient and telehealth appointments, find referrals and stay up to date with medical news. The company’s revenues rose 25% in the third quarter to $168.6 million, up from $135.3 million in the same period last year.
In the fourth quarter of the fourth quarter, Doximity expects revenues to be between $132.5 million and $133.5 million, but analysts say they expect $123.8 million Ta. The company also said it plans to raise guidance for the entire fiscal year and report revenues of between $564.6 million and $565.6 million.
Doximity’s adjusted EBITDA was $120 million, up 39% year-on-year.
Analysts at Morgan Stanley raised the stock price target from $53 to $71, saying this is driven by higher EBITDA and accelerated growth and strong margin performance. Doximity reported a “impressive incremental margin,” analysts added.
“This is a quarterly statement, indicating a segregation with more than doubled market growth,” the analyst wrote in a memo on Friday.
Analysts at Bank of America said Doximity has a “very strong quarter.” They said the company’s growth rate benefits from easy comparability, client portal launches, increased new products and election spending.
Analysts say Doximity may have a more moderate revenue growth rate in 2026, but the company appears to be well positioned to grow faster than the digital advertising market in the long run. I stated. They repeated a neutral valuation of the stock, but raised their price target from $63 to $75.
“Doxixity is accelerating its share of peers, which are driven by strong contributions from new products and some tailwinds from new client portals,” Bank of America analysts said on Friday. I mentioned it in a memo.
Analysts at Leerink Partners upgraded their stock to surpass market performance, increasing their price target from $60 to $90. They said they are seeing a continuation of core growth trends at Doximity.
“In short, we’re fighting the trends to see us against the baseline and many green shoots (new products, AI investments, the portal mentioned above), all contribute to continued growth.”
