Doximity Shares Plunge 25%

(RTTNews) - Doximity, Inc. (DOCS) shares sank 25.77 percent, down $8.60, to $24.72 on Friday, possibly after the company reported lower third-quarter profit compared with the same period last year, overshadowing revenue growth.

The stock was trading at $24.72, versus a previous close of $33.34 on the New York Stock Exchange. Shares opened at $34.55 and traded between an intraday low of $23.66 and a high of $26.51. Trading volume totaled about 4.30 million shares, well above the average volume of roughly 2.95 million shares.

Doximity posted net income of $61.55 million, or $0.31 per share, down from $75.19 million, or $0.37 per share, a year earlier. On an adjusted basis, earnings were $0.46 per share. Revenue increased 9.8 percent to $185.05 million from $168.60 million last year. The stock is trading near the lower end of its 52-week range of $23.66 to $85.21.