Yahoo Finance Doximity (DOCS) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Doximity (DOCS) standing at $27.97, reflecting a +0.5% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.71%.
The medical social networking site's shares have seen an increase of 0.29% over the last month, not keeping up with the Medical sector's gain of 1.74% and the S&P 500's gain of 3.53%.
Market participants will be closely following the financial results of Doximity in its upcoming release. It is anticipated that the company will report an EPS of $0.22, marking a 15.79% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $119.88 million, reflecting a 10.52% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.99 per share and revenue of $511.91 million. These totals would mark changes of +4.21% and +7.67%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Doximity. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.85% higher within the past month. Doximity currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Doximity is holding a Forward P/E ratio of 28.14. For comparison, its industry has an average Forward P/E of 19.93, which means Doximity is trading at a premium to the group.
Meanwhile, DOCS's PEG ratio is currently 3.91. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical Services was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Doximity, Inc. (DOCS): Free Stock Analysis Report
