Doximity Reports Q4: Everything You Need To Know Ahead Of Earnings

Jabin Bastian /
2022/02/07 6:06 am EST
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Healthcare professional network Doximity (NYSE:DOCS) will be reporting earnings tomorrow after market close. Here's what investors should know.

Last quarter Doximity reported revenues of $79.3 million, up 75.8% year on year, beating analyst revenue expectations by 7.9%. It was a stunning quarter for the company, with a very optimistic guidance for the next quarter and an exceptional revenue growth.

Is Doximity buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Doximity's revenue to grow 27% year on year to $74.5 million, slowing down from the 81% year-over-year increase in revenue the company had recorded in the same quarter last year. Earnings are expected to come in at $0.09 per share.

Doximity Total Revenue

The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing 7 upwards revisions over the last thirty days.

Looking at Doximity's peers in the vertical software segment, only Unity has so far reported results, delivering top-line growth of 43.3% year on year, and beating analyst estimates by 6.81%. The stock traded up 17.5% on results. Read our full analysis of Unity's earnings results here.

Tech stocks have had a rocky start in 2022 and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 7.37% over the last month. Doximity is down 3.96% during the same time, and is heading into the earnings with analyst price target of $72.3, compared to share price of $45.9.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

The author has no position in any of the stocks mentioned.