Zinger Key Points
- Doximity's first-quarter revenue grew by 17% year-over-year, with adjusted earnings per share exceeding expectations.
- Multiple analysts have upgraded Doximity's stock and raised their price targets, contributing to the stock's 35.7% surge.
- The new Benzinga Rankings show you exactly how stocks stack up—scoring them across five key factors that matter most to investors. Every day, one stock rises to the top. Which one is leading today?
Doximity, Inc. DOCS is experiencing a significant surge in its stock price today. Here’s what’s driving the movement.
What To Know: Shares of Doximity have spiked by over 35% after the company reported better-than-expected financial results for the first quarter of Fiscal- Year 2024. The company posted a revenue increase of 17% year-over-year to $126.68 million, surpassing the consensus estimate of $119.92 million. Additionally, Doximity’s adjusted earnings per share came in at 28 cents, beating analyst expectations of 22 cents.
Adding to the positive momentum, Doximity issued strong revenue guidance for the second quarter and full fiscal year 2024, which exceeded market expectations.
What Else: The stock’s upward movement has been supported by several analyst upgrades and price target increases. Notably, Needham analyst Scott Berg upgraded Doximity from Hold to Buy with a price target of $38. Barclays analyst Stephanie Davis raised her price target from $31 to $35 while maintaining an Equal-Weight rating. Other analysts, including those from BofA Securities, Evercore ISI Group and Morgan Stanley, have also raised their price targets.
DOCS Price Action: As of the latest update, Doximity shares were up by 37%, trading at $35.18 according to Benzinga Pro.
See Also:
Photo: courtesy of Doximity.
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
