Bank of America Securities (BofA) on Monday downgraded Doximity Inc. (NYSE:DOCS), citing limited clarity on the trajectory of revenue/margins.
During its latest fiscal year, Doximity reported mixed results for the fourth quarter and issued soft annual guidance.
The company in an investor call said, “With short-term demand in the HCP Digital Pharma ad market soft and visibility still limited. This market environment is the result of policy uncertainty remaining elevated and increased macro risk.”
“Taken together, we expect overall market growth to be modest this year, likely at or below 5%, consistent with broader industry trends.”
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