Doximity initiated with a Neutral at Mizuho

Mizuho initiated coverage of Doximity (DOCS) with a Neutral rating and $55 price target The company has witnessed some volatility in quarterly top-line growth over the past few years due to timing of pharma digital ad spending within the Doximity physician user app, including decelerating top-line growth throughout much of FY24, the analyst tells investors in a research note. Mizuho adds that it remains confident in Doximity’s ability to generate low double-digit annual revenue growth over the next few years, but also believes that there may be better entry points into the stock.