Doximity upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded Doximity (DOCS) to Overweight from Sector Weight with a $70 price target The company’s “very healthy” fiscal Q2 report and forward-looking outlook suggests its momentum is building into the years ahead, the analyst tells investors in a research note. The firm says that with consensus estimates largely reset in the out-years, combined with a year-end outlook suggestive of a better upsell budget flush environment than feared, Doximity’s share setup for next year is more achievable, particularly given its Client Portal, which should continue to drive incremental revenues and provide better visibility.