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Doximity (DOCS) Registers a Bigger Fall Than the Market: Important Facts to Note
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Doximity (DOCS - Free Report) closed at $23.69 in the latest trading session, marking a -2.55% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.67%. Elsewhere, the Dow saw a downswing of 1.73%, while the tech-heavy Nasdaq depreciated by 2.15%.
The medical social networking site's shares have seen a decrease of 3.15% over the last month, surpassing the Medical sector's loss of 7.36% and the S&P 500's loss of 6.15%.
The investment community will be paying close attention to the earnings performance of Doximity in its upcoming release. The company is forecasted to report an EPS of $0.28, showcasing a 26.32% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $143.67 million, reflecting a 3.89% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $643.12 million, which would represent changes of +8.45% and +12.75%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Doximity. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Doximity is currently trading at a Forward P/E ratio of 15.74. For comparison, its industry has an average Forward P/E of 20.29, which means Doximity is trading at a discount to the group.
One should further note that DOCS currently holds a PEG ratio of 0.98. 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. The Medical Info Systems was holding an average PEG ratio of 1.13 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Doximity (DOCS) Registers a Bigger Fall Than the Market: Important Facts to Note
Doximity (DOCS - Free Report) closed at $23.69 in the latest trading session, marking a -2.55% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.67%. Elsewhere, the Dow saw a downswing of 1.73%, while the tech-heavy Nasdaq depreciated by 2.15%.
The medical social networking site's shares have seen a decrease of 3.15% over the last month, surpassing the Medical sector's loss of 7.36% and the S&P 500's loss of 6.15%.
The investment community will be paying close attention to the earnings performance of Doximity in its upcoming release. The company is forecasted to report an EPS of $0.28, showcasing a 26.32% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $143.67 million, reflecting a 3.89% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $643.12 million, which would represent changes of +8.45% and +12.75%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Doximity. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Doximity is currently trading at a Forward P/E ratio of 15.74. For comparison, its industry has an average Forward P/E of 20.29, which means Doximity is trading at a discount to the group.
One should further note that DOCS currently holds a PEG ratio of 0.98. 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. The Medical Info Systems was holding an average PEG ratio of 1.13 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.