Why Doximity Shares Are Trading Higher Today
Portfolio Pulse from Vaishali Prayag
Doximity, Inc. (NYSE:DOCS) shares surged over 35% after reporting better-than-expected Q1 FY2024 financial results, including a 17% YoY revenue increase to $126.68 million and adjusted EPS of 28 cents. The company also issued strong revenue guidance for Q2 and FY2024, leading to several analyst upgrades and price target increases.
August 09, 2024 | 6:57 pm
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Doximity shares surged over 35% after the company reported better-than-expected Q1 FY2024 financial results, including a 17% YoY revenue increase to $126.68 million and adjusted EPS of 28 cents. The company also issued strong revenue guidance for Q2 and FY2024, leading to several analyst upgrades and price target increases.
The significant surge in Doximity's stock price is driven by better-than-expected financial results and strong future guidance. The positive analyst ratings and increased price targets further support the upward momentum.
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