Doximity (NASDAQ:DOCS) Shares Gap Down – Time to Sell?

Doximity, Inc. (NASDAQ:DOCS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $61.25, but opened at $57.91. Doximity shares last traded at $60.01, with a volume of 908,077 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on DOCS. Bank of America lifted their target price on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Robert W. Baird increased their price objective on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Raymond James reissued an “outperform” rating and issued a $65.00 target price (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. Baird R W raised shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $33.00 to $53.00 in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Doximity currently has an average rating of “Hold” and an average target price of $49.57.

Doximity Trading Down 8.9 %

The company has a 50 day moving average of $42.81 and a 200-day moving average of $33.81. The firm has a market capitalization of $9.82 billion, a P/E ratio of 60.78, a P/E/G ratio of 5.08 and a beta of 1.30.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently modified their holdings of DOCS. Janney Montgomery Scott LLC grew its position in shares of Doximity by 17.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock worth $560,000 after purchasing an additional 3,086 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Doximity by 18.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock worth $412,000 after buying an additional 2,432 shares in the last quarter. Sei Investments Co. increased its stake in Doximity by 36.5% during the 1st quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock worth $942,000 after acquiring an additional 9,359 shares during the period. Russell Investments Group Ltd. raised its holdings in Doximity by 108.3% in the 1st quarter. Russell Investments Group Ltd. now owns 175,506 shares of the company’s stock valued at $4,723,000 after acquiring an additional 91,240 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Doximity by 31.7% during the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after acquiring an additional 21,787 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's 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.