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Why the Market Dipped But Doximity (DOCS) Gained Today
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Doximity (DOCS - Free Report) closed the most recent trading day at $28.66, moving +1.49% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 1.28%.
Shares of the medical social networking site witnessed a gain of 2.8% over the previous month, beating the performance of the Medical sector with its gain of 0.74% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Doximity will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is forecasted to report an EPS of $0.22, showcasing a 15.79% upward movement from the corresponding quarter of the prior year. 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 annual period, the Zacks Consensus Estimates anticipate earnings of $0.99 per share and a revenue of $511.91 million, signifying shifts of +4.21% and +7.67%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Doximity. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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.
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, there's been no change in the Zacks Consensus EPS estimate. Doximity is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at valuation, Doximity is presently trading at a Forward P/E ratio of 28.56. This indicates a premium in contrast to its industry's Forward P/E of 21.65.
We can also see that DOCS currently has a PEG ratio of 3.97. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical Services industry stood at 1.68 at the close of the market yesterday.
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Why the Market Dipped But Doximity (DOCS) Gained Today
Doximity (DOCS - Free Report) closed the most recent trading day at $28.66, moving +1.49% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 1.28%.
Shares of the medical social networking site witnessed a gain of 2.8% over the previous month, beating the performance of the Medical sector with its gain of 0.74% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Doximity will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is forecasted to report an EPS of $0.22, showcasing a 15.79% upward movement from the corresponding quarter of the prior year. 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 annual period, the Zacks Consensus Estimates anticipate earnings of $0.99 per share and a revenue of $511.91 million, signifying shifts of +4.21% and +7.67%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Doximity. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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.
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, there's been no change in the Zacks Consensus EPS estimate. Doximity is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at valuation, Doximity is presently trading at a Forward P/E ratio of 28.56. This indicates a premium in contrast to its industry's Forward P/E of 21.65.
We can also see that DOCS currently has a PEG ratio of 3.97. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical Services industry stood at 1.68 at the close of the market yesterday.
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.