Doximity (NYSE:DOCS) Shares Gap Down – What’s Next?

Doximity, Inc. (NYSE:DOCS)’s share price gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

DOCS has been the topic of several research analyst reports. Truist Financial upgraded shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Barclays upgraded shares of Doximity to a “strong-buy” rating in a research report on Monday, December 8th. Wall Street Zen downgraded shares of Doximity from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Doximity in a report on Wednesday, December 24th. Finally, Royal Bank Of Canada upgraded Doximity to a “moderate buy” rating in a research note on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $55.00.

Doximity Stock Performance

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

Doximity Company Profile

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.