Doximity surges after FY25 revenue forecast raise

Doximity

08/11/2024 15:19

(Updates)
    ** Shares of telehealth co Doximity  DOCS.N  surge 33.4% to
$57.85, highest since March 2022 
    ** Co raises FY25 revenue forecast to $535 mln-$540 mln,
after increasing it to $514 mln-$523 mln in the previous qtr
    ** Co sees Q3 revenue between $152 mln and $153 mln
    ** Posts fiscal 2025 Q2 adj. EPS of 30 cents, beating
analysts' est. of 25 cents, as per data compiled by LSEG
    ** Q2 revenue of $136.8 mln also above est. of $127.2 mln 
    ** At least 3 brokerages raise PT on stock
    ** Raymond James raises PT to $65 from $37, says strong
results reflect a healthy upsell season and strength in new
products
    ** Wells Fargo also raises PT to $41 from $19
    ** Eight of 18 brokerages rate stock "buy" or higher, 9
"hold", 1 "sell"; median PT is $43 - LSEG data
    ** Including session's move, stock has more than doubled YTD


 (Reporting by Sukriti Gupta in Bengaluru)
 ((Sukriti.Gupta@thomsonreuters.com;))