- After two consecutive below-expectations quarterly results, Doximity Inc (NYSE:DOCS) shares surged on Friday after the company reported better-than-expected Q2 FY23 financial results.
- Doximity’s Q2 sales climbed 29% Y/Y to $102.19 million, beating the consensus of $100.12 million, with non-GAAP diluted net income per share of $0.17, versus $0.19 a year ago better than the consensus of $0.15.
- The company sees Q3 FY23 sales of $110.7-$111.7 million versus the consensus of $114.9 million.
- Doximity’s board also authorized a share buyback of up to $70 million.
- Analyst Reactions:
- Wells Fargo Maintains Overweight on Doximity, Raises Price Target to $44
- Evercore ISI raised the company’s price target to $32 from $28.
- Price Action: DOCS shares are up 26.2% at $33.23 on the last check Friday.
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MSC Industrial reported decline in Q2 net sales, adjusted operating income and EPS, despite strong gross margin performance and cash flow generation.
