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Friday, November 8, 2024

Doximity Explodes as Doctors, Street Bet Big on Game-Changing Growth

 Doximity (NYSE:DOCS) is on fire. The stock exploded 37% Friday after the online medical platform smashed earnings expectations for fiscal Q2 2025. Revenue hit $136.8 millionup 20% year-over-yearblowing past the $127.1 million analysts had penciled in. Adjusted earnings of $0.30 per share also crushed forecasts of $0.26. But the real mic-drop moment? Over 600,000 doctors are now actively prescribing through Doximity's platform, setting a record and underscoring the company's game-changing role in healthcare. CEO Jeff Tangney nailed it: Doximity isn't just saving doctors time; it's rewriting the rules for how patient care gets delivered.

KeyBanc gave the stock a big thumbs-up, upgrading it to "Overweight" with a new $70 price target, citing "very healthy" earnings and long-term momentum. Wells Fargo joined the fan club, boosting its price target to $41 from $19. Both upgrades followed Doximity's revised full-year guidance, now forecasting revenue between $535 million and $540 million, with adjusted EBITDA expected to soar up to $279 million. The message? Doximity's growth story is just getting started.

Here's the kicker: Doximity's stock is up 52% this year, leaving the S&P 500's 25% gain in the dust. And it's not just hypethe company's financials are rock solid. Adjusted EBITDA margins jumped to 55.7%, and operating cash flow shot up 430% year-over-year to $68.3 million. With Q3 revenue projected at $152$153 million and adoption of its platform accelerating,

https://finance.yahoo.com/news/doximity-stock-explodes-37-doctors-163903622.html

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