Doximity upgraded to Buy from Neutral at BofA

BofA upgraded Doximity (DOCS) to Buy from Neutral with a price target of $82, up from $75. The company’s shift from direct-to-consumer to healthcare professional is driving momentum into 2026, the analyst tells investors in a research note. The firm says the FDA’s recent reforms to direct-to-consumer advertising are adding friction, with pharmaceutical manufacturers beginning to shift spend away from the channel and toward the healthcare providers. BofA has confidence that Doximity’s Q4 “budget flush” will be significantly above Street expectations and that its revenue growth can potentially accelerate in 2026.