Doximity surges after FY25 revenue forecast hike

Doximity

09/08/2024 10:30

** Shares of telehealth co Doximity  DOCS.N  surge 28.6% to
$33 premarket
    ** Co raises FY25 revenue forecast to the range of $514
mln-$523 mln from $506 mln-$518 mln 
    ** Mid-point of new forecast range above analysts' estimates
of $513.7 mln - LSEG data 
    ** Co sees Q2 revenue between $126.5 mln and $127.5 mln vs
estimates of $124.4 mln 
    ** Q1 results also beat Wall Street expectations
    ** Jefferies says encouraged by utilization trends and
positive comments on upsell season
    ** Says guidance conservative as it implies limited growth 
    ** Three brokerages raise their PTs on stock after results
    ** Average rating of 19 brokerages "hold", median PT at $31-
LSEG 
    ** Stock down about 8% YTD, as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))