UPDATE: Baird Starts Doximity Inc (DOCS) at Outperform
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Baird analyst Vikram Kesavabhotla initiates coverage on Doximity Inc (NYSE: DOCS) with a Outperform rating and a price target of $84.00.
The analyst comments "In our view, Doximity (DOCS) is a unique asset given the depth and engagement of physicians on its platform. We see a meaningful runway for growth in its core offerings for pharmaceutical and hospital/health system customers and believe DOCS can complement this over time by monetizing additional solutions and end-markets. While the valuation is admittedly rich, we think this premium level can sustain (and expand) through continued revenue growth, profitability, and strong execution."
Shares of Doximity Inc closed at $70.77 yesterday.
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