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Doximity (DOCS) Gains As Market Dips: What You Should Know

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In the latest trading session, Doximity (DOCS - Free Report) closed at $48.83, marking a +0.04% move from the previous day. This move outpaced the S&P 500's daily loss of 1.69%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, added 0.14%.

Prior to today's trading, shares of the medical social networking site had gained 5.17% over the past month. This has lagged the Medical sector's gain of 11.33% and the S&P 500's gain of 7.88% in that time.

Wall Street will be looking for positivity from Doximity as it approaches its next earnings report date.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity is currently a Zacks Rank #2 (Buy).

Digging into valuation, Doximity currently has a Forward P/E ratio of 66.6. This represents a premium compared to its industry's average Forward P/E of 26.23.

Investors should also note that DOCS has a PEG ratio of 8.43 right now. 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. Medical Services stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.

The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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