What's Going On With Doximity Stock Wednesday?

Doximity Inc DOCS shares are trading lower Wednesday after the company reported fiscal fourth-quarter results and issued weak guidance

Q4 Earnings: Doximity said fourth-quarter revenue increased 18% year-over-year to $110.97 million, which narrowly beat consensus estimates of $110.09 million, per Benzinga Pro.

The company reported adjusted earnings of 20 cents per share, which beat estimates of 17 cents per share. 

Doximity generated operating cash flow of $46.6 million, down 1% year-over-year. Free cash flow was up 2% year-over-year to $45.6 million. 

"With the public health emergency officially over, we're proud to emerge with a record number of providers using our physician cloud in Q4 to power their scheduling, fax, e-signature, and telehealth needs," said Jeff Tangney, co-founder and CEO of Doximity.

Outlook: Doximity said it expects first-quarter revenue to be between $106.5 million and $107.5 million versus estimates of $112.09 million. Full-year revenue is expected to be between $500 million and $506 million versus estimates of $507.05 million.

Following the print, Needham analyst Scott Berg reiterated Doximity with a Buy rating and a $45 price target.

See Also: Doximity, Hess Midstream, Container Store Group And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

DOCS Price Action: Doximity shares were down 9.33% at $30.70 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Doximity.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...