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.

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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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