Doximity (NASDAQ:DOCS) Shares Gap Down - What's Next?

Doximity, Inc. (NASDAQ:DOCS - Get Free Report)'s stock price 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 traded.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Doximity from $35.00 to $49.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. KeyCorp dropped their target price on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Stephens assumed coverage on shares of Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 target price on the stock. Needham & Company LLC upped their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Doximity currently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Doximity Stock Up 0.2 %

The stock's 50-day simple moving average is $57.46 and its two-hundred day simple moving average is $47.03. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 77.13, a PEG ratio of 4.61 and a beta of 1.39.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction on 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 transaction, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 37.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Doximity

A number of large investors have recently modified their holdings of the business. QSV Equity Investors LLC grew its holdings in shares of Doximity by 0.3% during the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock worth $3,244,000 after buying an additional 186 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Doximity by 0.7% during the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company's stock worth $1,586,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after buying an additional 235 shares in the last quarter. Fielder Capital Group LLC grew its holdings in shares of Doximity by 4.5% during the fourth quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock worth $293,000 after buying an additional 235 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

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.