Doximity's (DOCS) fiscal Q4 revenue estimate indicates room for upward revision as the company is seeing "renewed momentum" in its business, Morgan Stanley said Thursday.
The company's fiscal Q4 revenue is expected to increase 3% year over year.
"Given the consensus view that Q4 estimates are overly conservative, a key question is how much upside could Doximity deliver in that quarter and what growth will look like in FY26," Morgan Stanley said in a note to clients.
The firm expects Doximity's 2024 revenue to increase 14% year over year, which it said was "well above" its 7% growth outlook for digital ad spending in the healthcare professional market.
"Doximity's outgrowth relative to the industry had been narrowing since outsized performance during COVID, although appears to be widening again in 2024," Morgan Stanley said.
Morgan Stanley said it lifted its fiscal 2025 revenue estimates for the company by 4% to $538 million and boosted its fiscal 2026 estimate by 3% to $581 million.
The firm upgraded its rating on the Doximity stock to equal-weight from underweight while raising its price target to $53 from $33.
Price: 52.55, Change: -0.31, Percent Change: -0.60
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。