Doximity (NASDAQ:DOCS) Shares Down 4.2% – Should You Sell?

Doximity, Inc. (NASDAQ:DOCS)’s stock price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $47.66 and last traded at $47.82. 1,293,732 shares changed hands during trading, a decline of 26% from the average session volume of 1,743,660 shares. The stock had previously closed at $49.90.

Analysts Set New Price Targets

A number of research firms have commented on DOCS. Canaccord Genuity Group reaffirmed a “hold” rating and set a $60.00 price target (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Barclays raised their price target on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price objective on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Canaccord Genuity Group lowered shares of Doximity from a “buy” rating to a “hold” rating and upped their price objective for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Finally, Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, August 9th. Eleven equities research 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, the stock currently has a consensus rating of “Hold” and an average target price of $52.27.

Doximity Stock Down 3.8 %

The firm has a market capitalization of $8.96 billion, a P/E ratio of 57.09, a P/E/G ratio of 4.18 and a beta of 1.30. The company has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $34.75.

Institutional Trading of Doximity

Several institutional investors have recently bought and sold shares of DOCS. LRI Investments LLC bought a new position in Doximity during the 1st quarter valued at about $27,000. Farther Finance Advisors LLC lifted its holdings in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the period. Blue Trust Inc. boosted its position in Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after purchasing an additional 1,193 shares during the last quarter. Quarry LP grew its stake in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Doximity during the 1st quarter valued at about $46,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.