Back to top

Image: Bigstock

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

Read MoreHide Full Article

Doximity (DOCS - Free Report) closed the most recent trading day at $42.54, moving -1.76% from the previous trading session. This change lagged the S&P 500's 2.48% gain on the day. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.09%.

Prior to today's trading, shares of the medical social networking site had lost 16.43% over the past month. This has lagged the Medical sector's loss of 4.76% and the S&P 500's loss of 7.81% in that time.

Doximity will be looking to display strength as it nears its next earnings release, which is expected to be May 17, 2022.

Investors might also notice recent changes to analyst estimates for Doximity. These recent revisions tend to reflect the evolving nature of short-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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Doximity is currently a Zacks Rank #4 (Sell).

In terms of valuation, Doximity is currently trading at a Forward P/E ratio of 59.08. For comparison, its industry has an average Forward P/E of 21.71, which means Doximity is trading at a premium to the group.

We can also see that DOCS currently has a PEG ratio of 7.48. 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 1.72 as of yesterday's close.

The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Doximity, Inc. (DOCS) - free report >>

Published in