Doximity (NYSE:DOCS) Shares Gap Down – Should You Sell?

Doximity, Inc. (NYSE:DOCS) gapped down prior to trading on Friday . The stock had previously closed at $33.32, but opened at $23.69. Doximity shares last traded at $25.50, with a volume of 4,525,362 shares traded.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research upgraded Doximity from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Truist Financial raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. The Goldman Sachs Group raised shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Royal Bank Of Canada raised Doximity to a “moderate buy” rating in a research note on Thursday, January 8th. Finally, Barclays upgraded shares of Doximity to a “strong-buy” rating in a research report on Monday, December 8th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $55.00.

Doximity Trading Down 20.4%

The stock has a market cap of $4.99 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39.

About Doximity

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.