Shares of Doximity, Inc. (DOCS) are soaring 9.31% in pre-market trading on Friday, following a series of positive announcements that have boosted investor confidence in the digital platform for medical professionals.

The company released its fiscal 2026 first-quarter results after market close on Thursday, surpassing analyst expectations. Doximity reported adjusted earnings per share of $0.36, beating the consensus estimate of $0.30 by 20% and marking a 28.57% increase from the same period last year. Revenue for the quarter came in at $145.913 million, exceeding analyst projections of $139.705 million and representing a 15.19% year-over-year growth. The company's adjusted EBITDA also impressed at $79.8 million, significantly outperforming the estimated $71.6 million.

Adding to the positive sentiment, Doximity provided an upbeat forecast for both the second quarter and the full fiscal year 2026. The company expects Q2 revenue between $157 million and $158 million, well above the consensus estimate of $150.35 million. For the full fiscal year, Doximity raised its revenue guidance to $628 million - $636 million, surpassing analysts' expectations of $626.47 million. Furthermore, the company announced its strategic acquisition of Pathway for $63 million, a move that could potentially enhance its service offerings and strengthen its market position in the healthcare technology sector. The combination of strong financial results, raised guidance, and strategic expansion has led several analysts to increase their price targets for Doximity stock, further fueling the pre-market rally.