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Doximity (DOCS) Dips More Than Broader Markets: What You Should Know
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Doximity (DOCS - Free Report) closed the most recent trading day at $53.23, moving -1.43% from the previous trading session. This move lagged the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the medical social networking site had gained 3.27% over the past month. This has lagged the Medical sector's gain of 4.88% and the S&P 500's gain of 6.07% in that time.
Doximity will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for Doximity should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Doximity currently has a Forward P/E ratio of 72.48. This represents a premium compared to its industry's average Forward P/E of 24.71.
It is also worth noting that DOCS currently has a PEG ratio of 9.06. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. DOCS's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Doximity (DOCS) Dips More Than Broader Markets: What You Should Know
Doximity (DOCS - Free Report) closed the most recent trading day at $53.23, moving -1.43% from the previous trading session. This move lagged the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the medical social networking site had gained 3.27% over the past month. This has lagged the Medical sector's gain of 4.88% and the S&P 500's gain of 6.07% in that time.
Doximity will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for Doximity should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Doximity currently has a Forward P/E ratio of 72.48. This represents a premium compared to its industry's average Forward P/E of 24.71.
It is also worth noting that DOCS currently has a PEG ratio of 9.06. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. DOCS's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.