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

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $83.14, but opened at $78.25. Doximity shares last traded at $76.74, with a volume of 2,794,321 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOCS. Canaccord Genuity Group upped their price target on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. The Goldman Sachs Group upped their price target on shares of Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Stephens began coverage on shares of Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 price target for the company. Barclays upped their price target on shares of Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Finally, Morgan Stanley raised shares of Doximity from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Doximity Stock Performance

The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 77.13, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. The business's 50 day moving average price is $58.36 and its 200-day moving average price is $47.99.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now owns 6,360 shares of the company's stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.40% of the company's stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently modified their holdings of DOCS. Tidal Investments LLC bought a new position in Doximity in the 4th quarter worth about $246,000. Teza Capital Management LLC bought a new position in Doximity in the 4th quarter worth about $2,034,000. Strategic Global Advisors LLC bought a new position in Doximity in the 4th quarter worth about $1,506,000. Snowden Capital Advisors LLC bought a new position in Doximity in the 4th quarter worth about $248,000. Finally, Raiffeisen Bank International AG bought a new position in Doximity in the 4th quarter worth about $179,000. Institutional investors own 87.19% of the company's stock.

About Doximity

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.