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Doximity, Inc.

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DOCS trade ideas

Betting on $DOCS: A Technical Analysis Forecasting 8% GrowthNYSE:DOCS shows strong performance with a Relative Strength (RS) rating of 98. The On-Balance Volume (OBV) has been rising since October 1st, indicating ongoing buying interest. The stock is forming a bullish base along the trend line, supported by the 10-day and 20-day Exponential Moving Averages (EMAs). I predict an 8% rise in price and have set a stop loss at 3.4% to limit risk. This setup suggests a solid opportunity for growth. Let's proceed with this trade and assess the outcome
NYSE:DOCSLong
by GreenBkk
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.
NYSE:DOCSLong
by DEXWireNews
5/16/24 - $docs - not convinced into print, careful fam5/16/24 - vrockstar - NYSE:DOCS - looks modestly interesting b/c the bar looks low-ish for a beat and it's a few days to cover. however, the prior Q's MSD+ revenue beat was sold down hard and without relief until today and the stock divided by SPY (the comp i benchmark everything by) is a bleed forever. it's not like valuation is a steal at 15% pa growth 7.5x sales, 25x PE and 4-5% fcf yield. options market also have a pretty substantial interest for the 6/21 contracts at 20P which i ignored (to my own peril in DLO and were proved correct). i'd be nervous that a beat is nothing that can rip/ re-rate higher for a reasonable multi-day swing with nice 10+% upside. and forget a miss - you're look at 10% minimally, i'd guess in this tape and given you'd be breaking ATL at that point, it's an exercise in catching a falling knife which is a miserable experience, always and usually best to find a bottoming pattern even if you don't nail the bottom - nobody does. i'll be watching this from the sidelines and not all that interested if/unless we get to mid teens on a macro-related sell off. gl to the holders. tough one to play into this print.
NYSE:DOCSShort
by VROCKSTAR
1
Doximity (NYSE:DOCS) jumped 29% Shares of healthcare professional network Doximity (NYSE:DOCS) jumped 29% in the morning session after the company reported a classic "beat and raise" quarter that investors love. Third quarter results beat Wall Street's expectations for revenue and handily beat expectations for Adjusted EBITDA and EPS. Additionally, it was good to see Doximity's optimistic revenue and adjusted EBITDA guidance for the next quarter, which exceeded analysts' expectations. Lastly, revenue and adjusted EBITDA guidance for the full year were both raised from the previous outlook given last quarter. Overall, we think this was a strong quarter with no major flaws that should satisfy shareholders. What is the market telling us: Doximity's shares are very volatile and over the last year have had 15 moves greater than 5%. But moves this big are very rare even for Doximity and that is indicating to us that this news had a significant impact on the market's perception of the business. The company reported first quarter results with revenue guidance for the next quarter coming in below analysts' expectations and indicating a pretty significant slowdown in growth. The full year guidance also missed and was lowered, which isn't a good sign for a company that bulls argue is still very early in penetrating a large and growing addressable market. Doximity is down 30.1% since the beginning of the year, and at $22.91 per share it is trading 42.2% below its 52-week high of $39.66 from February 2023. Investors who bought $1,000 worth of Doximity's shares at the IPO in June 2021 would now be looking at an investment worth $433.40. Technical Analysis DOCS is trading near the bottom of its 52-week range and below its 200-day simple moving average. What does this mean? Investors have been pushing the share price lower, and the stock still appears to have downward momentum. This means that there is no clear trend or momentum in the price movement of Doximity, and it is likely to fluctuate within a range.
NYSE:DOCSLong
by DEXWireNews
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.
NYSE:DOCSLong
by TopgOptions
1
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.
NYSE:DOCSShort
by NicksAnalysis