Doximity, Inc. (NYSE: DOCS)

This lawsuit is for anyone who acquired securities in Doximity, Inc. (NYSE: DOCS) from August 8, 2024 through May 13, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by overstating the impact that the Company’s Newsfeed had on its revenue growth, and that the Company was losing market share to its competitors with more favorable pricing and engagement models.  Additionally, notwithstanding the Company’s frequent statements to the contrary, Doximity relied heavily on both banner ads and email newsletters as advertising methods.

On November 6, 2025, Doximity announced financial results for the second quarter of 2026, in which the Company expressed a degree of caution regarding the outlook for ad spending and implied a slowdown in sales growth in the second half of the 2026 fiscal year, which ended on March 31, 2026. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on February 5, 2026, Doximity announced financial results for the third quarter of 2026, in which the Company lowered its revenue guidance for 2026 full fiscal year and announced that its sales growth had decelerated while its net income had contracted, which will negatively impact its 2026 fiscal fourth quarter. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on May 13, 2026, Doximity announced financial results for the fourth quarter and full year 2026, in which the Company revealed it missed its already-reduced revenue guidance, as well as projected a significantly slower pace of growth for its 2027 fiscal year, which ends on March 31, 2027. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Doximity, Inc. (NYSE: DOCS) from August 8, 2024 through May 13, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.