Doximity upgraded to Equal Weight at Wells Fargo after Q2 beat

As previously reported, Wells Fargo analyst Stan Berenshteyn upgraded Doximity (DOCS) to Equal Weight from Underweight with a price target of $41, up from $19, after a Q2 beat. Doximity’s ability to benefit from upsells seems stronger than suggested by survey and channel checks, according to the firm, which also thinks fiscal Q3 could see persistence of the tailwinds seen in Q2, making it “difficult to build a case for underperformance.”