Raymond James sees a rosy outlook ahead for Doximity . The bank upgraded the digital platform for medical professionals to a strong buy from outperform. While it lowered its price target to $65 from $75, that still implies roughly 40% upside from Thursday's close. Analyst Brian Peterson wrote that he was upgrading the stock following a "significant dislocation" after posting its fiscal second-quarter results in May. He added that at 25 times free cash flow, the stock looks "too compelling to ignore." DOCS YTD mountain DOC YTD chart "Doximity has all 3 Ms of a core long-term holding (Moat, Margin, and Management Team), and we think the recent pullback that has shares at a discount to the vertical software group is too great to ignore," he said. "We're also surprised by the company's signifi
Buy this digital health stock that's 'too compelling to ignore', says Raymond James
CNBC Investing1 hrs ago
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