Doximity upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Stan Berenshteyn upgraded Doximity (DOCS) to Overweight from Equal Weight with a price target of $55, down from $65. The firm views investor concerns as overdone after its survey indicated Doximity has “sufficient differentiation.” While low visibility and completive concerns have been pressuring the shares, Wells’ survey supports “platform staying power” for Doximity, the analyst tells investors in a research note. The firm believes the shares can move higher without a pickup in revenue growth.