JP Morgan has downgraded Doximity Inc (DOCS) to Underweight from Neutral as of October 9, 2025. This revision underscores a cautious outlook for the company, which operates an online platform for medical professionals and employs 830 full-time staff in San Francisco.
Doximity, which went public on June 24, 2021, provides marketing, hiring, and workflow solutions tailored for pharmaceutical manufacturers, health systems, and medical recruiting firms. The company has a market capitalisation of $10.2 billion and a trailing twelve-month price-to-earnings ratio of 43.25, with earnings per share at $1.16.
Analysts suggest that the downgrade may reflect concerns about competitive pressures, market conditions, or execution risks that could affect the company's performance. Doximity's upcoming earnings reports are scheduled for May 13, 2026, with an estimated EPS of $0.33 and revenue of $153.4 million, followed by another report on August 5, 2026, with an estimated EPS of $0.38 and revenue of $165.6 million.
While this downgrade is notable, it is essential for investors to consider multiple factors, including company fundamentals and industry trends, when evaluating Doximity's prospects. Analyst ratings can change as new information becomes available, and opinions may vary among different analysts.