Analyst Craig Hettenbach of Morgan Stanley maintained a Hold rating on Doximity, retaining the price target of $62.00.
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Craig Hettenbach has given his Hold rating due to a combination of factors that reflect both positive and cautious outlooks for Doximity. The company reported a strong performance in the recent quarter, surpassing revenue and EBITDA expectations with a 23% year-over-year revenue increase and a 60% EBITDA margin. However, despite this strong performance, the guidance for the upcoming quarter suggests only a modest 7% year-over-year revenue growth, which appears conservative and has not impressed investors.
Moreover, while the company’s fiscal year 2026 revenue and EBITDA guidance slightly exceed Street expectations, the premium valuation of the stock already accounts for these positive metrics. Hettenbach notes the potential for growth through Doximity’s video modules and AI tools, but remains cautious about the company’s ability to further monetize these advancements. As a result, the Hold rating reflects a balanced view, acknowledging both the strengths and the potential limitations in Doximity’s current market position.
According to TipRanks, Hettenbach is ranked #2875 out of 10072 analysts.
In another report released on November 4, Wells Fargo also maintained a Hold rating on the stock with a $65.00 price target.