BofA raised the firm’s price target on Doximity (DOCS) to $62 from $55 and keeps a Neutral rating on the shares after having hosted Doximity’s CFO Anna Bryson and Vice President of Investor Relations Perry Gold for an investor meeting. The firm came away from the meeting “incrementally positive” around the stability of pharma budgets through the end of calendar 2025 and optimistic around Doximity’s opportunity to leverage AI across its platform. However, while the firm acknowledges the improving fundamentals of the business and believes the company is appropriately balancing margin stability with accretive investments, it reiterates a Neutral rating given some caution on macro dynamics.
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