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May 21, 2023

Doximity (DOCS) Plunges: Unveiling the Reasons Behind Its -10.93% Monthly Descent

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In the fast-paced world of technology and software development, Doximity (DOCS) recently faced a challenging month as its stock experienced a substantial decline of -10.93%, settling at $32.04 per share. This blog post aims to shed light on the factors that contributed to Doximity's descent, while providing an industry-wide analysis of the Packaged Software sector. Join us as we unravel the story behind Doximity's notable setback and explore the broader market trends influencing the industry.

The Packaged Software Industry: An Overview To comprehend Doximity's performance, it is crucial to examine the landscape of the Packaged Software Industry. In our analysis of 938 stocks within the sector, a significant portion of 47.68% exhibited an Uptrend, while 52.32% endured a Downtrend. By understanding these broader market dynamics, we can gain valuable insights into the specific challenges and opportunities faced by Doximity.

Factors Influencing Doximity's Descent: Several factors may have contributed to Doximity's -10.93% monthly decline. Market conditions, industry competition, regulatory changes, or internal operational challenges could have played a role in the company's setback. By dissecting these factors, we can gain a deeper understanding of the specific circumstances impacting Doximity's performance.

Navigating the Packaged Software Landscape: As investors evaluate the impact of Doximity's descent, it becomes crucial to navigate the Packaged Software Industry with caution. Assessing the current market outlook, identifying potential opportunities, and understanding the risks associated with the sector are key considerations for informed decision-making. This blog post offers insights and strategies to help investors navigate the complex terrain of the Packaged Software Industry amidst Doximity's downturn.

Doximity's -10.93% monthly descent highlights the inherent volatility and challenges of the Packaged Software Industry. By analyzing the broader market trends and uncovering the factors influencing Doximity's performance, investors can gain a comprehensive perspective on the landscape. As the industry continues to evolve, staying informed, adapting to market conditions, and seizing potential opportunities while managing risks are vital for investors looking to navigate the Packaged Software sector successfully.

Related Ticker: DOCS

Momentum Indicator for DOCS turns positive, indicating new upward trend

DOCS saw its Momentum Indicator move above the 0 level on June 05, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator turned positive. In of the 46 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

DOCS moved above its 50-day moving average on May 17, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for DOCS crossed bullishly above the 50-day moving average on May 23, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 8 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DOCS advanced for three days, in of 159 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 96 cases where DOCS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for DOCS moved out of overbought territory on June 17, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 15 similar instances where the indicator moved out of overbought territory. In of the 15 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 32 cases where DOCS's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for DOCS turned negative on June 17, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 26 similar instances when the indicator turned negative. In of the 26 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where DOCS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

DOCS broke above its upper Bollinger Band on June 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. DOCS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.698) is normal, around the industry mean (30.421). P/E Ratio (39.418) is within average values for comparable stocks, (157.675). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.738). Dividend Yield (0.000) settles around the average of (0.082) among similar stocks. P/S Ratio (11.765) is also within normal values, averaging (56.972).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. DOCS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock worse than average.

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), CrowdStrike Holdings (NASDAQ:CRWD).

Industry description

Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.

Market Cap

The average market capitalization across the Packaged Software Industry is 10.47B. The market cap for tickers in the group ranges from 291 to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is BLGI at 291.

High and low price notable news

The average weekly price growth across all stocks in the Packaged Software Industry was -1%. For the same Industry, the average monthly price growth was -1%, and the average quarterly price growth was 17%. LGIQ experienced the highest price growth at 93%, while WBSR experienced the biggest fall at -71%.

Volume

The average weekly volume growth across all stocks in the Packaged Software Industry was -29%. For the same stocks of the Industry, the average monthly volume growth was -9% and the average quarterly volume growth was -57%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 61
SMR Rating: 83
Profit Risk Rating: 89
Seasonality Score: 9 (-100 ... +100)
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Industry PackagedSoftware

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Address
500 3rd Street
Phone
+1 650 549-4330
Employees
997
Web
https://www.doximity.com
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