BTIG downgraded Doximity (DOCS) to Neutral from Buy without a price target following the earnings report. The company’s fiscal 2027 guidance came in well below expectations, the analyst tells investors in a research note. BTIG says that while the vast majority of questions on the earnings call centered around Doximity’s investments into AI and deploying the new commercial product, its main concern is a potential longer term slowdown in the core business. It believes companies like Veeva (VEEV) are growing capabilities that can essentially compete with Doximity, creating increasing competition.
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Read More on DOCS:
- Doximity Maintained at Buy as Analyst Sees Temporary Profit Trough and Long-Term Upside with Unchanged $47 Price Target
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