Healthcare professional network Doximity (NYSE:DOCS) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Doximity beat analysts’ revenue expectations by 6.6% last quarter, reporting revenues of $136.8 million, up 20.4% year on year. It was a very strong quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations.
Is Doximity a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Doximity’s revenue to grow 13.8% year on year to $153.9 million, slowing from the 17.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Doximity has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Doximity’s peers in the vertical software segment, only Agilysys has reported results so far. It missed analysts’ revenue estimates by 5.2%, delivering year-on-year sales growth of 14.9%. The stock was down 20.1% on the results.
Read our full analysis of Agilysys’s earnings results here.There has been positive sentiment among investors in the vertical software segment, with share prices up 6.4% on average over the last month. Doximity is up 5.3% during the same time and is heading into earnings with an average analyst price target of $55.59 (compared to the current share price of $59.26).
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