Doximity short report concerns mostly already known, says Evercore ISI

Evercore ISI says that while the Jehoshaphat Research short report on Doximity “does highlight some valid concerns,” most are already known and the determination of declining growth “appears premature.” The firm’s main takeaway from the report is that the duration of deferred revenues is shortening. This is not a positive to overall revenue visibility, but the company is also seeing that a smaller portion of revenue is coming from deferred sales, pointing to more in-quarter business, the analyst tells investors in a research note. Evercore keeps an In Line rating on Doximity with a $30 price target.