Doximity (DOCS) ended the recent trading session at $43.53, demonstrating a -3.22% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.46% for the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.57%.
The stock of medical social networking site has fallen by 9.95% in the past month, lagging the Medical sector's gain of 1.59% and the S&P 500's gain of 4.22%.
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 $0.44, marking a 2.22% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $181.03 million, reflecting a 7.37% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.56 per share and a revenue of $645.29 million, representing changes of +9.86% and +13.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 a 0.78% rise in the Zacks Consensus EPS estimate. As of now, Doximity holds a Zacks Rank of #3 (Hold).
In terms of valuation, Doximity is presently being traded at a Forward P/E ratio of 28.75. This denotes a discount relative to the industry average Forward P/E of 46.25.
We can additionally observe that DOCS currently boasts a PEG ratio of 1.52. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical Info Systems industry had an average PEG ratio of 3.49.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 42% 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.
Be sure to follow all of these stock-moving metrics, and many 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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