Morgan Stanley upgraded Doximity Inc. (NYSE:DOCS) to Overweight from Equal Weight on December 15, setting a price target of $65, up from $62. The firm stated the recent stock underperformance does not align with positive business checks and growing platform engagement. Morgan Stanley suggested both company guidance and Street estimates appear conservative, creating what they view as an attractive entry point at current prices.
Earlier, on December 8, Barclays analyst Glen Santangelo initiated coverage of Doximity with an Overweight rating and a $63 price target. While Barclays maintains a generally Neutral stance on the broader US healthcare tech and distribution sector, the firm is notably bullish on drug distributors. In contrast, the firm holds a more cautious and mixed view regarding the dental and healthcare IT sub-sectors.
Doximity's strategic focus on AI has driven significant user engagement. AI Scribe users nearly tripled between FQ1 2026 and FQ2 2026. The company integrated Pathway's extensive medical data sets and AI models into its DoxGPT feature, providing physicians access to over 2,000 medical journals and integrated drug references. Total AI-related Quality Adjusted Users rose 50% quarter-over-quarter as doctors increasingly adopt these tools to streamline workflows and clinical tasks.
Doximity Inc. operates as a digital platform for medical professionals in the United States.