Doximity (DOCS) ended the recent trading session at $62.99, demonstrating a +0.35% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 0.52%.

Coming into today, shares of the medical social networking site had lost 16.31% in the past month. In that same time, the Medical sector lost 1.03%, while the S&P 500 lost 7.33%.

Analysts and investors alike will be keeping a close eye on the performance of Doximity in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.27, marking an 8% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $133.76 million, up 13.3% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.31 per share and a revenue of $562.98 million, signifying shifts of +37.89% and +18.42%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for Doximity. Recent revisions tend to reflect the latest 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.52% increase. Doximity is currently sporting a Zacks Rank of #1 (Strong Buy).

In terms of valuation, Doximity is presently being traded at a Forward P/E ratio of 47.99. This indicates a premium in contrast to its industry's Forward P/E of 16.32.

Meanwhile, DOCS's PEG ratio is currently 2.6. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical Services stocks are, on average, holding a PEG ratio of 1.43 based on yesterday's closing prices.

The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Doximity, Inc. (DOCS) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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