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

Key Points

• Doximity (NASDAQ:DOCS) shares experienced a significant gap down, opening at $70.01 compared to a previous close of $73.15, indicating a potential sell-off.
• Equities analysts have varying price targets for Doximity, with the majority rating it "Buy" or "Overweight," while Goldman Sachs set a target price of $64.00 with a "Sell" rating.
• Recent insider transactions revealed a notable sell-off, with Director Timothy S. Cabral selling 20,000 shares, leading to an 86.13% decrease in his ownership.

Doximity, Inc. (NASDAQ:DOCS - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $73.15, but opened at $70.01. Doximity shares last traded at $70.93, with a volume of 258,202 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on DOCS shares. Piper Sandler upped their target price on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Needham & Company LLC increased their price objective on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Truist Financial increased their price objective on Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Robert W. Baird increased their price objective on Doximity from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Finally, The Goldman Sachs Group set a $64.00 price objective on Doximity and gave the stock a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.16.

Doximity Price Performance

The company has a market capitalization of $13.22 billion, a PE ratio of 70.54, a PEG ratio of 4.10 and a beta of 1.37. The firm has a 50-day moving average of $66.58 and a 200 day moving average of $60.50.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same period in the prior year, the business earned $0.28 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares of the company's stock, valued at approximately $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total value of $114,180.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at approximately $948,721.62. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,000 shares of company stock valued at $2,581,880. 31.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of Doximity by 5.9% in the second quarter. GAMMA Investing LLC now owns 2,981 shares of the company's stock worth $183,000 after buying an additional 165 shares during the period. Amalgamated Bank raised its stake in shares of Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after buying an additional 186 shares during the period. Louisiana State Employees Retirement System raised its stake in Doximity by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the company's stock valued at $2,306,000 after purchasing an additional 200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Doximity by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after purchasing an additional 210 shares during the period. Finally, Greenleaf Trust raised its stake in Doximity by 5.4% during the 1st quarter. Greenleaf Trust now owns 4,492 shares of the company's stock valued at $261,000 after purchasing an additional 230 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.