Doximity (DOCS) shares were up 35% in recent Friday trading after analysts raised their price targets on the stock following the company's improved fiscal Q3 results reported on Thursday that beat analyst expectations.
Morgan Stanley increased its price target on Doximity to $71 from $53 while reiterating an equalweight rating, noting the company's higher earnings before interest, taxes, depreciation and amortization, gross margin and free cash flow.
The investment bank also said that the company's fiscal Q4 revenue outlook of $133 million at the midpoint is 7% higher than consensus.
Doximity also received price target increases from Truist Securities and Leerink Partners.
Truist lifted its price target to $65 from $49 while reaffirming a hold rating, and Leerink boosted the price target to $90 from $60 and upgraded Doximity to outperform from market perform.
Price: 78.63, Change: +20.37, Percent Change: +34.96
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