For its fiscal fourth quarter, Doximity said it expects to report revenue between $132.5 million and $133.5 million, while analysts were expecting $123.8 million. The company also raised guidance for its full fiscal year and said it expects to report revenue of between $564.6 million and $565.6 million.
Doximity is a digital platform for medical professionals that can help them carry out telehealth appointments with patients, find referrals, stay current on medical news and more. The company’s revenue increased 25% to $168.6 million in its third quarter, up from $135.3 million in the same period last year.
Doximity shares closed up 36% on Friday, a day after the company reported fiscal third-quarter results that beat Wall Street’s expectations for revenue and guidance.
Analysts at Morgan Stanley raised their price target on the stock to $71 from $53, and said this was driven by a higher EBITDA as well as accelerating growth and strong margin performance. Doximity reported
Doximity shares pop 36% on revenue beat, rosy guidance
