Raymond James reiterates a Strong Buy rating on Doximity (DOCS) after meeting with CEO Jeff Tangney. The company’s engagement should ramp for the foreseeable future, providing a “durable” revenue growth driver over time, the analyst tells investors in a research note. The firm believes investors are underappreciating Doximity’s “moat” relative to peers, and believes the company’s EBITDA margins will move higher. Doximity’s “physicians-first ethos will offer a structural moat not fully appreciated by the Street,” contends Raymond James.
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