Doximity (DOCS) closed the most recent trading day at $55.48, moving -0.16% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 1.89%.
Prior to today's trading, shares of the medical social networking site had gained 3.23% over the past month. This has outpaced the Medical sector's loss of 6.22% and the S&P 500's loss of 1.7% in that time.
The investment community will be closely monitoring the performance of Doximity in its forthcoming earnings report. In that report, analysts expect Doximity to post earnings of $0.33 per share. This would mark year-over-year growth of 13.79%. Meanwhile, the latest consensus estimate predicts the revenue to be $152.44 million, indicating a 12.69% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.14 per share and a revenue of $539.15 million, indicating changes of +20% and +13.4%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Doximity. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Doximity is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Doximity's current valuation metrics, including its Forward P/E ratio of 48.8. For comparison, its industry has an average Forward P/E of 17.08, which means Doximity is trading at a premium to the group.
We can also see that DOCS currently has a PEG ratio of 3.4. 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 Services industry had an average PEG ratio of 1.37.
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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