DOCS Doximity Options Ahead of EarningsIf you haven`t bought DOCS before the previous earnings:
Then analyzing the options chain and the chart patterns of DOCS Doximity prior to the earnings report this week,
I would consider purchasing the 25usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $1.15.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
DOCS
Doximity Surges 18% on Earnings Beat and Strong OutlookDoximity shares ( NYSE:DOCS ) surged 18% after the company beat quarterly earnings forecasts, provided a better-than-expected current-quarter outlook, and unveiled a share buyback program. The provider of curated medical news and telehealth tools reported adjusted earnings of 25 cents per share for the fiscal fourth quarter ending March 31, comfortably topping Wall Street estimates of 20 cents a share. Revenue in the period of $118.1 million improved 6% from a year earlier and beat analysts' expectations of $116.4 million. Subscription revenue in the quarter increased to $112.7 million, up 9% from $103.2 million in last year's corresponding period, helping to boost top-line growth.
Doximity ( NYSE:DOCS ) expects current-quarter net sales to range between $119.5 million and $120.5 million, with the lower end surpassing forecasts of $119.2 million. For the full year, it projects revenue of $506 million to $518 million, below the $520.8 million Street consensus. The San Francisco-based company said it had been incorporating artificial intelligence (AI) and automation into its workflow tools as it looks to sign on more healthcare professionals.
Doximity ( NYSE:DOCS ) also unveiled a stock buyback program, announcing that it had authorized the purchase of up to $500 million of its Class A common stock. Since early March, the Doximity ( NYSE:DOCS ) share price has traded within a falling wedge, a bullish chart pattern suggesting potential upward price movement. Investors should watch the $28 level, an area where the stock may find overhead resistance from a horizontal line connecting a series of price actions over the past 13 months.
DOCS Disappointing GuidanceDoximity, Inc. (DOCS) expects revenue between $88.6 million and $89.6 million for the next Q vs $96.8 million expected.
analyst Sandy Draper: “We see it as a buying opportunity for investors." “We are lowering our PT to $52 from $70 to reflect a lower multiple as growth stocks continue to see multiple compression.”
The P/E ratio is decent, 56.01.
I expect a reversal to $49 by the end of the year.
Looking forward to read your opinion about it.
Doximity | DOCS | Needs to Find BottomDoximity ( NYSE:DOCS ). The algos may have this one set to fall for a while, unfortunately. Fairly new to the market, it made a new low in January 2022 and may need more time to find the actual bottom. The support and resistance lines/angles all indicate a falling wedge down to $10. The thick white lines on the chart show major support/resistance areas while the blue dotted lines highlight the possible max formation of the wedge. While it may not drop quickly, what I see is the beginnings of a bleeding stock. Confirmation of a further decline will be if it breaks $48 in the near-term.
P/E 103.80x and insiders continue to slowly trim shares.
DOCS IPO Pump CorrectionDOCS has been following a typical IPO pump the past few weeks. It's starting to finally show signs of weakness and the 100 area is a key zone.
Two shooting star candlestick patterns have been plotted, and today's candle confirms it. Expect DOCS to revisit the 9EMA at the 90s price level at the very minimum