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Doximity (DOCS) Dips More Than Broader Markets: What You Should Know
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Doximity (DOCS - Free Report) closed at $42.47 in the latest trading session, marking a -0.38% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Heading into today, shares of the medical social networking site had lost 15.77% over the past month, lagging the Medical sector's loss of 11.91% and the S&P 500's loss of 7.66% in that time.
Doximity will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2022.
Investors should also note any recent changes to analyst estimates for Doximity. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Doximity is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Doximity has a Forward P/E ratio of 74.46 right now. For comparison, its industry has an average Forward P/E of 22.48, which means Doximity is trading at a premium to the group.
Investors should also note that DOCS has a PEG ratio of 9.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DOCS in the coming trading sessions, be sure to utilize Zacks.com.
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Doximity (DOCS) Dips More Than Broader Markets: What You Should Know
Doximity (DOCS - Free Report) closed at $42.47 in the latest trading session, marking a -0.38% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Heading into today, shares of the medical social networking site had lost 15.77% over the past month, lagging the Medical sector's loss of 11.91% and the S&P 500's loss of 7.66% in that time.
Doximity will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2022.
Investors should also note any recent changes to analyst estimates for Doximity. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Doximity is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Doximity has a Forward P/E ratio of 74.46 right now. For comparison, its industry has an average Forward P/E of 22.48, which means Doximity is trading at a premium to the group.
Investors should also note that DOCS has a PEG ratio of 9.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DOCS in the coming trading sessions, be sure to utilize Zacks.com.