Doximity downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Elizabeth Anderson downgraded Doximity (DOCS) to In Line from Outperform with a price target of $25, down from $30. The firm cites its slower market growth forecasts in 2026, a higher degree of competitive risk, and Doximity’s “balanced” valuation for the downgrade. The stock’s risk/reward is now more balanced with fewer near-term positive catalysts, the analyst tells investors in a research note. Evercore says Doximity’s fiscal 2026 has seen a slowdown in organic growth to high-single-digits as pharma advertising spending has not reaccelerated at the same rate seen in research and development spend.