Doximity falls after Jehoshaphat questions sales growth in short report

Jehoshaphat Research announced a short position in Doximity via a new short report posted on its website. The firm says its forensic accounting analysis and interviews with former employees show the company’ business “is coming under pressure variety of fundamental issues.” Jehoshaphat believes Doximity’s underlying sales, contrary to the Street’s expectations for double-digit growth, are declining at a 3%-6% rate. This decline “has been masked through accelerated revenue recognition,” the firm contends. Shares of Doximity are down 3% to $25.98 in morning trading.