In the latest close session, Doximity (DOCS) was up +1.82% at $44.65. The stock outpaced the S&P 500's daily loss of 0.16%. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 0.59%.
The stock of medical social networking site has fallen by 11.63% in the past month, lagging the Medical sector's gain of 1.12% and the S&P 500's loss of 0.21%.
The upcoming earnings release of Doximity will be of great interest to investors. On that day, Doximity is projected to report earnings of $0.44 per share, which would represent a year-over-year decline of 2.22%. Alongside, our most recent consensus estimate is anticipating revenue of $180.66 million, indicating a 7.15% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.57 per share and revenue of $644.51 million. These totals would mark changes of +10.56% and +12.99%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Doximity. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 remained stagnant within the past month. Doximity is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Doximity is at present trading with a Forward P/E ratio of 27.93. This indicates a discount in contrast to its industry's Forward P/E of 47.07.
We can additionally observe that DOCS currently boasts a PEG ratio of 1.47. 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. Medical Info Systems stocks are, on average, holding a PEG ratio of 3.52 based on yesterday's closing prices.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 138, putting it in the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Doximity, Inc. (DOCS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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