Doximity — Trading Ideas on TradingView

DOCS Doximity Options Ahead of Earnings If 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.

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.

DOCS Disappointing Guidance Doximity, 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 Bottom Doximity ( 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.