Is DOCS a good stock to buy right now?

Based on our 6-factor quantitative model, Doximity, Inc. (DOCS) receives a "Reduce" rating with a composite score of 37.6/100. It is ranked #2,888 out of 4,446 stocks. Key factor scores: Quality 50/100, Value 46/100, Momentum 11/100. The timing signal is "Neutral". This is quantitative analysis only — not investment advice.

What is the stock rating for DOCS?

Doximity, Inc. (DOCS) has a "Reduce" rating and 2-star score. The composite score of 37.6 ranks it #2,888 among 4,446 U.S. stocks. Ratings are updated weekly using academically-proven factor models.

What sector is DOCS in?

Doximity, Inc. operates in the Technology sector (Computer Software industry) with a market cap of $4.24 billion. It is classified as a mid-cap stock.

Does DOCS pay a dividend?

DOCS does not currently pay a regular dividend. The company may be reinvesting profits for growth.

What is DOCS's P/E ratio?

DOCS has a trailing P/E ratio of 18.80x. The Technology sector average is 45.3x. This P/E is in a moderate range relative to the broader market.

How profitable is DOCS?

DOCS's quality factor score is 50/100. Gross margin: 89.8%. ROE: 22.6% vs sector average -1.4%. High margins suggest pricing power and competitive moats.

How is DOCS valued compared to peers?

DOCS's value factor score is 46/100 (higher = cheaper). Key multiples: P/E 18.8x, EV/EBITDA 17.1x. Valuation is roughly in line with peers.

What is DOCS's debt level?

DOCS's debt-to-equity ratio is 18%. Sector average: 43%. Low leverage suggests conservative financial management.

DOCS has a beta of 1.07, meaning it tracks the market. Stability score: 51/100.

Does DOCS have high short interest?

DOCS's short interest factor score is 56/100 (higher = less short selling). Moderate short interest.

DOCS Stock Analysis: Top Mid-Cap Reduce (Score 37.6/100) | Blank Capital Research

Data Series	1D	5D	1M	YTD	1Y	3Y	5Y	10Y
DOCS	-0.52%	-7.55%	-15.05%	-52.46%	-59.18%	-	-	-
Industry Proxy XLK	+0.39%	+4.88%	+2.05%	-0.94%	-26.62%	-	-	-
U.S. Market SPY	-0.07%	+3.60%	+0.34%	-0.36%	+29.52%	-	-	-
Alpha vs Market	-0.45%	-11.16%	-15.39%	-52.10%	-88.71%	-	-	-
Alpha vs Sector	-0.91%	-12.43%	-17.10%	-51.52%	-32.56%	-	-	-

Metric	DOCS	Benchmark
P/E Ratio	18.8x	-58%
EV/EBITDA	17.1x	+34%
Price / Book	4.2x

Stock Entity	Score▼	Quality	Value	Momentum	P/E Ratio	ROE	Gross Margin	Net Margin	Rev Growth	D/E Ratio	Market Cap	Compare
VRSN VERISIGN INC/CA	56	79	59	40	30.7x	-41.1%	88.0%	50.6%	8.3%	-87.0x	$23.0B	VS
IHS IHS Holding Ltd	55	42	63	63	-	-616.0%	48.0%	-96.1%	-	365.0x	$2.8B	VS
LHX L3HARRIS TECHNOLOGIES, INC. /DE/	55	50	52	66	37.5x	9.0%	25.5%	8.1%	10.3%	110.0x	$66.1B	VS
ESP ESPEY MFG & ELECTRONICS CORP	53	48	44	71	25.8x	12.8%	29.0%	17.1%	-11.7%	66.0x	$169M	VS
NYAX Nayax Ltd.	52	38	46	78	-	-13.6%	44.6%	-1.8%	-	30.0x	$2.2B	VS
ESE ESCO TECHNOLOGIES INC	52	49	40	69	65.6x	7.4%	40.8%	10.4%	16.3%	9.0x	$7.6B	VS
INTT INTEST CORP	52	50	32	72	-	-3.2%	43.1%	-3.1%	-22.8%	46.0x	$179M	VS
KARO Karooooo Ltd.	49	50	72	53	-	117.1%	69.5%	20.3%	-	10.0x	$1.6B	VS
MTC MMTec, Inc.	47	32	40	96	-	-1,370.8%	81.6%	-4,879.7%	-	120.0x	$136M	VS
CCLD CareCloud, Inc.	47	38	71	60	12.4x	18.5%	48.0%	9.6%	10.6%	47.0x	$154M	VS
DOCS Doximity, Inc.	38	50	46	11	18.8x	22.6%	89.8%	34.7%	46.1%	18.0x	$4.2B

Key Ratio	TTM	2026	2025	2024	2023	2022	2021
Gross Margin %	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.8%
Operating Margin %	0.4%	0.4%	0.4%	0.3%	0.3%	0.3%	0.3%
EBITDA Margin %	0.4%	0.4%	0.4%	0.3%	0.3%	0.3%	0.3%
Net Margin %	0.3%	0.3%	0.4%	0.3%	0.3%	0.5%	0.2%
FCF Margin %	-	-	-	-	-	-	37.9%
ROE %	0.2%	0.1%	0.2%	0.2%	0.1%	0.2%	0.8%
ROA %	0.2%	0.1%	0.2%	0.1%	0.1%	0.2%	0.2%
ROIC %	19.6%	5.8%	16.6%	14.4%	10.2%	10.2%	12,031.2%

Key Ratio

TTM

2026

2025

2024

2023

2022

2021

Gross Margin %

0.9%

0.8%

Operating Margin %

0.4%

0.3%

EBITDA Margin %

0.4%

0.3%

Net Margin %

0.3%

0.4%

0.3%

0.5%

0.2%

FCF Margin %

37.9%

ROE %

0.2%

0.1%

0.2%

0.1%

0.2%

0.8%

ROA %

0.2%

0.1%

0.2%

0.1%

0.2%

ROIC %

19.6%

5.8%

16.6%

14.4%

10.2%

12,031.2%

Line Item	TTM	2025	2024	2023	2022	2021
	$636M	$570M	$475M	$419M	$344M	$207M
	—	$56M	$51M	$53M	$40M	—
	$572M	$515M	$425M	$366M	$304M	$176M
Gross Margin	89.8%	90.2%	89.3%	87.2%	88.4%	84.9%
	—	$93M	$82M	$80M	$62M	$44M
Depreciation	—	—	—	—	—	$11M
Total Operating Expenses	—	$287M	$261M	$240M	$190M	—
	$243M	$228M	$164M	$125M	$114M	$53M
EBIT	$243M	$228M	$164M	$125M	$114M	$53M
EBITDA	$243M	$228M	$164M	$125M	$114M	$69M
Operating Margin	38.2%	39.9%	34.5%	29.9%	33.1%	25.8%
EBITDA Margin	38.2%	39.9%	34.5%	29.9%	33.0%	33.1%
	—	$264M	$185M	$133M	$114M	—
Income Tax Expense	—	$40M	$38M	$20M	-$41M	$8M
	$221M	$223M	$148M	$113M	$155M	$50M
Net Margin	34.7%	39.1%	31.0%	26.9%	45.1%	24.3%
	$0.33	$1.19	$0.78	$0.58	$0.82	$0.29
Diluted EPS	$0.33	$1.11	$0.72	$0.53	$0.70	$0.29
Weighted Avg Basic	—	187M	190M	193M	163M	—
Weighted Avg Diluted	—	201M	206M	213M	191M	—

Line Item

TTM

2025

2024

2023

2022

2021

$636M

$570M

$475M

$419M

$344M

$207M

—

$56M

$51M

$53M

$40M

—

$572M

$515M

$425M

$366M

$304M

$176M

Gross Margin

89.8%

90.2%

89.3%

87.2%

88.4%

84.9%

—

$93M

$82M

$80M

$62M

$44M

Depreciation

—

$11M

Total Operating Expenses

—

$287M

$261M

$240M

$190M

—

$243M

$228M

$164M

$125M

$114M

$53M

EBIT

$243M

$228M

$164M

$125M

$114M

$53M

EBITDA

$243M

$228M

$164M

$125M

$114M

$69M

Operating Margin

38.2%

39.9%

34.5%

29.9%

33.1%

25.8%

EBITDA Margin

38.2%

39.9%

34.5%

29.9%

33.0%

33.1%

—

$264M

$185M

$133M

$114M

—

Income Tax Expense

—

$40M

$38M

$20M

-$41M

$8M

$221M

$223M

$148M

$113M

$155M

$50M

Net Margin

34.7%

39.1%

31.0%

26.9%

45.1%

24.3%

$0.33

$1.19

$0.78

$0.58

$0.82

$0.29

Diluted EPS

$0.33

$1.11

$0.72

$0.53

$0.70

$0.29

Weighted Avg Basic

—

187M

190M

193M

163M

—

Weighted Avg Diluted

—

201M

206M

213M

191M

—

Doximity, Inc. (DOCS) Stock Analysis — April 2026 Rating, Price, and Forecast

Last updated: April 2026

Company Overview — What Does Doximity, Inc. Do?

Doximity, Inc. operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up-to-date with the latest medical news and research, and manage their careers. It primarily serves pharmaceutical companies and health systems. The company was formerly known as 3MD Communications, Inc. and changed its name to Doximity, Inc. in June 2010. Doximity, Inc. was incorporated in 2010 and is headquartered in San Francisco, California. Doximity, Inc. (DOCS) is classified as a mid-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Jeffrey A. Tangney and employs approximately 890 people. With a market capitalization of $4.2B, DOCS is one of the notable companies in the Technology sector.

Doximity, Inc. (DOCS) Stock Rating — Reduce (April 2026)

As of April 2026, Doximity, Inc. receives a Reduce rating with a composite score of 37.6/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.DOCS ranks #2,888 out of 4,446 stocks in our coverage universe. Within the Technology sector, Doximity, Inc. ranks #324 of 584 stocks, placing it in the lower half of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

DOCS Stock Price and 52-Week Range

Doximity, Inc. (DOCS) currently trades at $21.05. The stock lost $0.11 (0.5%) in the most recent trading session. The 52-week high for DOCS is $76.51, which means the stock is currently trading -72.5% from its annual peak. The 52-week low is $23.53, putting the stock -10.5% above its annual trough. Recent trading volume was 3.6M shares, reflecting moderate market activity.

Is DOCS Overvalued or Undervalued? — Valuation Analysis

Doximity, Inc. (DOCS) carries a value factor score of 46/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 18.80x, compared to the Technology sector average of 45.27x — a discount of 58%. The price-to-book ratio stands at 4.24x, versus the sector average of 3.16x. The price-to-sales ratio is 6.53x, compared to 1.06x for the average Technology stock. On an enterprise value basis, DOCS trades at 17.09x EV/EBITDA, versus 12.79x for the sector.

Overall, DOCS's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

Doximity, Inc. Profitability — ROE, Margins, and Quality Score

Doximity, Inc. (DOCS) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 22.6%, compared to the Technology sector average of -1.4%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 19.1% versus the sector average of -1.0%.

On a margin basis, Doximity, Inc. reports gross margins of 89.8%, compared to 50.9% for the sector. The operating margin is 38.2% (sector: -0.5%). Net profit margin stands at 34.7%, versus -1.5% for the average Technology stock. Revenue growth is running at 46.1% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.

DOCS Debt, Balance Sheet, and Financial Health

Doximity, Inc. has a debt-to-equity ratio of 18.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 6.63x, indicating strong short-term liquidity.

DOCS has a beta of 1.07, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Doximity, Inc. is 51/100, reflecting average volatility within the normal range for its sector.

Doximity, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Doximity, Inc. reported revenue of $636M and earnings per share (EPS) of $0.33. Net income for the quarter was $221M. Gross margin was 89.8%. Operating income came in at $243M.

In Q3 2026, Doximity, Inc. reported revenue of $185M and earnings per share (EPS) of $0.33. Net income for the quarter was $62M. Gross margin was 89.9%. Operating income came in at $72M.

In Q2 2026, Doximity, Inc. reported revenue of $169M and earnings per share (EPS) of $0.33. Net income for the quarter was $62M. Gross margin was 90.3%. Revenue grew 23.2% year-over-year compared to Q2 2025. Operating income came in at $64M.

In Q1 2026, Doximity, Inc. reported revenue of $146M and earnings per share (EPS) of $0.28. Net income for the quarter was $53M. Gross margin was 89.2%. Revenue grew 15.2% year-over-year compared to Q1 2025. Operating income came in at $55M.

Over the past 8 quarters, Doximity, Inc. has demonstrated a growth trajectory, with revenue expanding from $475M to $636M. Investors analyzing DOCS stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

DOCS Dividend Yield and Income Analysis

Doximity, Inc. (DOCS) does not currently pay a dividend. This is common among smaller companies in the Computer Software industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.

DOCS Momentum and Technical Analysis Profile

Doximity, Inc. (DOCS) has a momentum factor score of 11/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 23/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 56/100 reflects moderate short selling activity.

DOCS vs Competitors — Technology Sector Ranking and Peer Comparison

Within the Technology sector, Doximity, Inc. (DOCS) ranks #324 out of 584 stocks based on the Blank Capital composite score. This places DOCS in the lower half of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.

Comparing DOCS against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full DOCS vs S&P 500 (SPY) comparison to assess how Doximity, Inc. stacks up against the broader market across all factor dimensions.

DOCS Next Earnings Date

No upcoming earnings date has been announced for Doximity, Inc. (DOCS) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy DOCS? — Investment Thesis Summary

The quantitative profile for Doximity, Inc. suggests caution. Momentum is weak at 11/100, a headwind for near-term performance.

In summary, Doximity, Inc. (DOCS) earns a Reduce rating with a composite score of 37.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on DOCS stock.

Related Resources for DOCS Investors

Explore more research and tools: DOCS vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare DOCS head-to-head with peers: DOCS vs IHS, DOCS vs VRSN, DOCS vs ESE.

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Doximity, Inc. (DOCS) Stock Analysis — April 2026 Rating, Price, and Forecast

Company Overview — What Does Doximity, Inc. Do?

Doximity, Inc. (DOCS) Stock Rating — Reduce (April 2026)

DOCS Stock Price and 52-Week Range

Is DOCS Overvalued or Undervalued? — Valuation Analysis

Doximity, Inc. Profitability — ROE, Margins, and Quality Score

DOCS Debt, Balance Sheet, and Financial Health

Doximity, Inc. Revenue and Earnings History — Quarterly Trend

DOCS Dividend Yield and Income Analysis

DOCS Momentum and Technical Analysis Profile

DOCS vs Competitors — Technology Sector Ranking and Peer Comparison

DOCS Next Earnings Date

Should You Buy DOCS? — Investment Thesis Summary

Related Resources for DOCS Investors

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