Doximity price target raised to $60 from $35 at Leerink

Leerink raised the firm’s price target on Doximity (DOCS) to $60 from $35 and keeps a Market Perform rating on the shares. The company’s Q2 earnings came in well above the firm’s and Wall Street’s expectations, with strength in results across the board, the analyst tells investors in a research note. The firm noted that the totality of the quarterly results also put the company’s incremental margin capture on display, as the EBITDA dropdown on the revenue beat was “quite significant.” Leerink added that it raised its price target to account for increased estimates and a “more robust” multiple on growth upside.