雷蒙德·詹姆斯（Raymond James）升级Doximity以提高长期增长可见性

2025-11-22 00:15

Raymond James upgraded Doximity (DOCS) to strong buy from outperform, saying that the digital platform for doctors with a "current risk/reward at 25x [free cash flow] looking too compelling to ignore."
The firm, however, lowered its target price to $65 from $75 (40% upside based on Nov. 20 close).
Analyst Brian Peterson notes that while some investors have concerns about seasonality and guidance philosophy, the company has also been ramping up workflow adoption, multi-product expansion, and client portal benefits.
Peterson said that Doximity has seen annual growth rates from 2023 to 2025 of 15%-18%, with quarterly growth rates in that period experiencing peaks in the mid-20% range and troughing in the mid-single digit range. This, he added, is a sign that "seasonal shifts are not indicative of longer-term growth rates."
"...we're comfortable underwriting a double-digit growth trajectory for the foreseeable future," Peterson wrote.

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