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Doximity (DOCS) Stock Moves -1.23%: What You Should Know
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The most recent trading session ended with Doximity (DOCS - Free Report) standing at $28.99, reflecting a -1.23% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The medical social networking site's stock has climbed by 6.49% in the past month, exceeding the Medical sector's gain of 1.98% and the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Doximity in its upcoming earnings disclosure. On that day, Doximity is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 15.79%. Alongside, our most recent consensus estimate is anticipating revenue of $119.88 million, indicating a 10.52% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.99 per share and a revenue of $511.91 million, representing changes of +4.21% and +7.67%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Doximity. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Doximity holds a Zacks Rank of #2 (Buy).
Investors should also note Doximity's current valuation metrics, including its Forward P/E ratio of 29.68. For comparison, its industry has an average Forward P/E of 20.95, which means Doximity is trading at a premium to the group.
We can also see that DOCS currently has a PEG ratio of 4.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical Services industry was having an average PEG ratio of 1.63.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Doximity (DOCS) Stock Moves -1.23%: What You Should Know
The most recent trading session ended with Doximity (DOCS - Free Report) standing at $28.99, reflecting a -1.23% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The medical social networking site's stock has climbed by 6.49% in the past month, exceeding the Medical sector's gain of 1.98% and the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Doximity in its upcoming earnings disclosure. On that day, Doximity is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 15.79%. Alongside, our most recent consensus estimate is anticipating revenue of $119.88 million, indicating a 10.52% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.99 per share and a revenue of $511.91 million, representing changes of +4.21% and +7.67%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Doximity. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Doximity holds a Zacks Rank of #2 (Buy).
Investors should also note Doximity's current valuation metrics, including its Forward P/E ratio of 29.68. For comparison, its industry has an average Forward P/E of 20.95, which means Doximity is trading at a premium to the group.
We can also see that DOCS currently has a PEG ratio of 4.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical Services industry was having an average PEG ratio of 1.63.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.