Doximity Inc. [DOCS] Stock trading around $55.19 per share: What’s Next?

Doximity Inc. [NYSE: DOCS] stock went on a downward path that fall over -5.42% on Tuesday. The company report on June 24, 2021 that Doximity Announces Pricing of Initial Public Offering.

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Doximity, Inc. (“Doximity”) (NYSE: DOCS) announced the pricing of its initial public offering of 23,300,000 shares of its Class A common stock at a price to the public of $26.00 per share. The offering consists of 19,010,750 shares of Class A common stock being sold by Doximity and 4,289,250 shares of Class A common stock being sold by an existing stockholder. The gross proceeds from the offering to Doximity are expected to be approximately $494.3 million, before deducting underwriting discounts and commissions and other offering expenses payable by Doximity. Doximity will not receive any proceeds from the sale of shares by the selling stockholder. Doximity’s Class A common stock is expected to begin trading on the New York Stock Exchange on June 24, 2021 under the ticker symbol “DOCS.” The offering is expected to close on June 28, 2021, subject to the satisfaction of customary closing conditions. In addition, Doximity has granted the underwriters a 30-day option to purchase up to an additional 3,495,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC are acting as joint lead book-running managers for the offering. Piper Sandler & Co. and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Canaccord Genuity LLC, Needham & Company, LLC, Raymond James & Associates, Inc. and SVB Leerink LLC are acting as co-managers for the offering.

The market cap for the stock reached $9.31 billion, with 168.72 million shares outstanding. Compared to the average trading volume of 8.36M shares, DOCS stock reached a trading volume of 4213682 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Doximity Inc. [DOCS]:

The Average True Range (ATR) for Doximity Inc. is set at 9.35, with the Price to Sales ratio for DOCS stock in the period of the last 12 months amounting to 45.01. Price to Free Cash Flow for DOCS in the course of the last twelve months was 112.46 with Quick ratio for the last quarter at 2.10.

DOCS Stock Performance Analysis:

Insight into Doximity Inc. Fundamentals:

Doximity Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

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