Doximity upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Elizabeth Anderson upgraded Doximity (DOCS) to Outperform from In Line with a price target of $70, up from $50. The firm believes the company’s fiscal 2026 guidance is conersvartive. Doximity’s formulary business is likely to grow at least mid-single-digits in fiscal 2026, which would allow the remaining pharma business to grow just 2% and still hit the current midpoint of the outlook, the analyst tells investors in a research note. Evercore believes Doximity has an “enviable model” with very high incremental EBITDA margins when revenue outperforms expectations.