Doximity Inc (NYSE:DOCS) reported better-than-expected earnings for the first quarter on Thursday.
The company posted quarterly earnings of 36 cents per share which beat the analyst consensus estimate of 30 cents per share. The company reported quarterly sales of $145.913 million which beat the analyst consensus estimate of $139.705 million.
Doximity raised its FY2026 sales guidance from $619.000 million-$631.000 million to $628.000 million-$636.000 million.
“We began our year with strong profit growth and record engagement across our newsfeed, workflow, and AI products,” said Jeff Tangney, co-founder and CEO of Doximity. “Our AI suite once again grew the fastest, up 5x year-over-year, while more than 630,000 prescribers used our workflow tools to save time and better serve their patients.”
Doximity shares gained 10.3% to trade at $64.55 on Friday.
These analysts made changes to their price targets on Doximity following earnings announcement.
- Needham analyst Ryan MacDonald maintained Doximity with a Buy and raised the price target from $67 to $75.
- Wells Fargo analyst Stan Berenshteyn maintained the stock with an Equal-Weight rating and raised the price target from $62 to $65.
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