Doximity (DOCS) Gains As Market Dips: What You Should Know

Doximity (DOCS) closed at $43.32 in the latest trading session, marking a +1.14% move from the prior day. This change outpaced the S&P 500's 0.97% loss on the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq gained 0.23%.

Coming into today, shares of the medical social networking site had lost 12.16% in the past month. In that same time, the Medical sector lost 7.42%, while the S&P 500 lost 0.78%.

Investors will be hoping for strength from Doximity as it approaches its next earnings release.

Any recent changes to analyst estimates for Doximity should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. Doximity is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Doximity currently has a Forward P/E ratio of 74.81. For comparison, its industry has an average Forward P/E of 23.53, which means Doximity is trading at a premium to the group.

Also, we should mention that DOCS has a PEG ratio of 9.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.52 based on yesterday's closing prices.

The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Doximity, Inc. (DOCS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.