Raymond James Sees 'Knee-Jerk' AI Reaction, Reaffirms Strong Buy on Doximity, Inc. (DOCS)

Doximity, Inc. (NYSE:DOCS) is among the most promising growth stocks according to analysts. On January 9, Raymond James reaffirmed a ‘Strong Buy’ rating on Doximity, Inc. (NYSE:DOCS) and a $65 price target. The firm highlighted OpenAI’s recent entry into healthcare AI tools, which it believes is creating a “knee-jerk reaction” among investors who appeared doubtful about AI competition throughout the past year.

This follows the company’s earlier stance on December 29, 2025, where Raymond James maintained a ‘Strong Buy’ rating on the company, along with a price target slightly above the consensus estimate. This came after a meeting with Co-founder and CEO Jeff Tangney in early December.

In the December research note, the analyst had highlighted that the company’s engagement is set to accelerate in the times ahead and thus will offer a “durable” revenue growth driver over time. The firm also believes that the investors are currently underappreciating Doximity, Inc. (NYSE:DOCS)’s “moat” in contrast to its competitors, saying that the company’s EBITDA margins are likely to expand further from 55%. Doximity’s “physicians-first ethos will offer a structural moat not fully appreciated by the Street,” asserted Raymond James.

Doximity, Inc. (NYSE:DOCS) is a California-based digital platform for medical professionals. Founded in 2010, the company serves a diverse range of customers, including physicians, medical students, pharmaceutical manufacturers, and healthcare systems.

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