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Doximity (DOCS) Ascends While Market Falls: Some Facts to Note
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Doximity (DOCS - Free Report) closed the most recent trading day at $46.49, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Coming into today, shares of the medical social networking site had gained 1.24% in the past month. In that same time, the Medical sector gained 0.82%, while the S&P 500 gained 1.19%.
The investment community will be paying close attention to the earnings performance of Doximity in its upcoming release. It is anticipated that the company will report an EPS of $0.44, marking a 2.22% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $181.03 million, up 7.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.56 per share and a revenue of $645.29 million, signifying shifts of +9.86% and +13.13%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Doximity. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.78% higher. Doximity is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Doximity is currently being traded at a Forward P/E ratio of 29.2. Its industry sports an average Forward P/E of 30.01, so one might conclude that Doximity is trading at a discount comparatively.
One should further note that DOCS currently holds a PEG ratio of 1.54. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical Info Systems was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Doximity (DOCS) Ascends While Market Falls: Some Facts to Note
Doximity (DOCS - Free Report) closed the most recent trading day at $46.49, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Coming into today, shares of the medical social networking site had gained 1.24% in the past month. In that same time, the Medical sector gained 0.82%, while the S&P 500 gained 1.19%.
The investment community will be paying close attention to the earnings performance of Doximity in its upcoming release. It is anticipated that the company will report an EPS of $0.44, marking a 2.22% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $181.03 million, up 7.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.56 per share and a revenue of $645.29 million, signifying shifts of +9.86% and +13.13%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Doximity. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.78% higher. Doximity is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Doximity is currently being traded at a Forward P/E ratio of 29.2. Its industry sports an average Forward P/E of 30.01, so one might conclude that Doximity is trading at a discount comparatively.
One should further note that DOCS currently holds a PEG ratio of 1.54. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical Info Systems was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.