Core Viewpoint - A securities fraud class action lawsuit has been filed against Doximity, Inc. by Kessler Topaz Meltzer & Check, LLP on behalf of investors who purchased Doximity common stock between February 9, 2022, and April 1, 2024, due to alleged misleading statements regarding the company's financial health and growth prospects [1][3]. Group 1: Company Background and Allegations - Doximity operates a digital platform that connects medical professionals and provides medical information and patient scheduling tools [3]. - The lawsuit claims that during the Class Period, Doximity's executives made repeated assurances about the sustainability of the company's growth and profitability while downplaying the significance of customer upsell rates [3][4]. - On August 8, 2023, Doximity reported better-than-expected quarterly revenue but provided disappointing guidance for the second quarter and the full fiscal year 2024, leading to a workforce reduction of approximately 10% [3][4]. Group 2: Financial Impact and Stock Performance - Following the August 8, 2023 announcement, Doximity's stock price fell by $7.49 per share, nearly 23%, from $32.79 to $25.30 [4]. - On April 1, 2024, a report from Jehoshaphat Research indicated that Doximity's underlying sales were declining at a rate of -3% to -6%, which was previously obscured by accelerated revenue recognition [5]. - This revelation caused Doximity's stock to decline by $1.11 per share, over two trading days, from $26.91 to $25.80 [5].

In its upcoming report, Doximity (DOCS) is predicted by Wall Street analysts to post quarterly earnings of $0.20 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $116.46 million, representing a year-over-year increase of 5%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company anno ...

The three-year-long historic public health crisis significantly altered the structure and trend of the Medical Services sector. The growing demand for remote treatment led to a tremendous upsurge in digital healthcare options. Even after the pandemic, demand for digital healthcare treatment has continued to grow in the form of telemedicine-focused online medical and AI-powered technology services, backed by the adoption of data and analytics.According to a recent Precedence Research report, the global healt ...

Investors interested in stocks from the Medical Services sector have probably already heard of Surgery Partners (SGRY) and Doximity (DOCS) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores hi ...

Doximity (DOCS) has been beaten down lately with too much selling pressure. While the stock has lost 7% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that mea ...

Investors with an interest in Medical Services stocks have likely encountered both Icon PLC (ICLR) and Doximity (DOCS) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive ear ...

SAN FRANCISCO--(BUSINESS WIRE)--Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced that it will participate in the following upcoming investor events. Raymond James 45th Annual Institutional Investors Conference Date: March 5, 2024 Fireside Chat Time: 2:50 pm ET/11:50 am PT Speaker: Anna Bryson, Chief Financial Officer Barclays 26th Annual Global Healthcare Conference Date: March 13, 2024 Fireside Chat Time: 11:15 am ET/8:15 am PT Speaker: Anna Bryson ...

Financial Data and Key Metrics Changes - The company raised its fiscal 2024 annual revenue guidance midpoint by $8 million or 2%, and its EBITDA guidance midpoint by 6% to $225 million, representing a 47% margin [7][32] - Q3 revenue grew to $135.3 million, up 17% year-over-year, exceeding the high end of the guidance range [30] - The net revenue retention rate was 115% on a trailing 12-month basis, with the top 20 customers showing a higher rate of 122% [30] Business Line Data and Key Metrics Changes - New modules, including Peer-to-Peer, Point-of-Care, and Formulary, grew over 100% year-over-year during the upfront season [13][16] - The company reported strong performance in modules outside traditional marketing budgets, indicating a shift in customer spending [12][13] Market Data and Key Metrics Changes - The company expects the market to grow roughly 5% to 7% in calendar year 2024, with confidence in outperforming this growth [18][73] - The company noted a more condensed upsell season compared to the previous year, affecting budget allocations [77] Company Strategy and Development Direction - The next phase of growth is anticipated to be AI-fueled, with a focus on enhancing the workflow platform and integrating new technologies [9][10] - The company is excited about the potential of its client portal to unlock new customer segments and improve sales efficiency [20][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong performance in Q3 and the potential for continued growth, despite macroeconomic uncertainties [73][88] - The company is focused on maintaining a high-tech and high-touch relationship with clients, ensuring personalized service while leveraging technology [144][148] Other Important Information - The company has repurchased $262 million worth of shares, reducing fully diluted shares outstanding by approximately 6% [12] - The gross margin reached a record non-GAAP level of 93%, driven by revenue outperformance and cost optimization [31][65] Q&A Session All Questions and Answers Question: What are the key factors for share gains relative to budgets? - Management believes that continued investment in newer modules and their packaged approach will drive share gains, despite market growth expectations of 5% to 7% [18][40] Question: Can you discuss the portal's readiness for purchasing? - The portal is currently being used by 10% of customers, with positive feedback. Management plans to gradually roll it out to more clients while ensuring a smooth transition [20][22] Question: How does the company view the market growth in fiscal '25? - Management indicated that while the market growth rate remains uncertain, they are optimistic about their ability to gain share based on strong customer investment [73][92] Question: What is the impact of the new modules on legacy products? - New modules are expected to unlock new budgets and are not seen as cannibalizing legacy products, as they offer more interactive solutions [47][125] Question: How is the company addressing the sales relationship with the portal? - The company aims to maintain a balance between high-tech solutions and high-touch service, ensuring clients can access data easily while still receiving personalized support [144][148]

For the quarter ended December 2023, Doximity (DOCS) reported revenue of $135.28 million, up 17.4% over the same period last year. EPS came in at $0.29, compared to $0.22 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $127.46 million, representing a surprise of +6.14%. The company delivered an EPS surprise of +20.83%, with the consensus EPS estimate being $0.24.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

Doximity (DOCS) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.83%. A quarter ago, it was expected that this medical social networking site would post earnings of $0.18 per share when it actually produced earnings of $0.22, delivering a surprise of 22.22%.Over the last four quarte ...