A source told ESPN's Mark Schlabach that Davis was not seriously injured in the incident, which was first reported by the Tuscaloosa News. It is not immediately known whether Davis will play against No. 3 Florida State on Saturday in Atlanta, the source said.
Police told the News that the shooting victim, whom they would not identify, was hit by a stray bullet and that they recovered shell casings in the parking lot of a Tuscaloosa bar.
"Our concern at this time is for Raekwon and his health. While this does not appear to be a serious medical situation, Raekwon is still being evaluated," coach Nick Saban said in a statement.
The News reported that Davis, 20, was taken to the hospital with a minor injury.
"The victim told investigators he was standing outside of Bar 17 when he heard several gunshots and realized he had been shot in the right leg," Homicide Unit commander Capt. Gary Hood told the News. "The victim was uncooperative with investigators."
Davis played in seven games as a freshman, getting four tackles and a sack.