Doximity, Inc.
In the published model solve dated 2026-Q2, anchored at $26.73, Doximity, Inc. (DOCS) is priced for today's economics sustained for ~8.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed August 7, 2026 from SEC EDGAR filings.
• More than 85% of U.S. physicians are verified members of a network that sells access to them, and about 95% of revenue in the nine months to December 2025 came from subscription customers rather than one-off placements. • Profitability is going the wrong way while revenue grows: operating income fell to 214.9 million dollars in the fiscal year ended March 31, 2026 from 227.8 million the year before, even as revenue rose to 644.9 million from 570.4 million. • The June 2026 quarter is where that
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405 institutional managers reported holding DOCS in 13F filings for the quarter ended 2026-03-31. Together they hold about 60% of the company; the top 10 hold 29%. 68 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 18.8M shares were sold short as of the 2026-06-15 count, about 9% of shares outstanding (5.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
DOCS's share count grew 114% over the past five years even with $917.99M spent on repurchases. It pays no dividend. Cash returned over the past three years: $810.91M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at DOCS over the trailing three years. Absence is a fact about the company, not a signal. 8 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
DOCS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -26.6% | -12.0% |
| 2023-11-10 | +13.1% | +24.0% |
| 2024-02-09 | +4.3% | -9.5% |
| 2024-05-24 | +17.5% | +1.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
DOCS's latest 8-K filings: 2026-08-06 (items 2.02, 9.01); 2026-05-13 (items 2.02, 5.02, 9.01); 2026-04-17 (items 5.02, 7.01); 2026-02-05 (items 2.02, 5.02, 9.01); 2025-12-30 (items 8.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: August 7, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.