We’ve recently updated our valuation analysis.

Doximity Valuation

Is DOCS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DOCS?

Other financial metrics that can be useful for relative valuation.

DOCS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue16.8x
Enterprise Value/EBITDA53.3x
PEG Ratio2.8x

Price to Earnings Ratio vs Peers

How does DOCS's PE Ratio compare to its peers?

The above table shows the PE ratio for DOCS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average36x
MDRX Veradigm
16.3x29.5%US$1.9b
VEEV Veeva Systems
68.1x17.3%US$27.0b
NXGN NextGen Healthcare
54.1x24.7%US$1.2b
NUTX Nutex Health
5.4x-8.0%US$859.5m
DOCS Doximity
52.1x18.8%US$7.2b

Price-To-Earnings vs Peers: DOCS is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the peer average (36x).


Price to Earnings Ratio vs Industry

How does DOCS's PE Ratio compare vs other companies in the Global Healthcare Services Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a36.4%
n/an/an/a

Price-To-Earnings vs Industry: DOCS is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the Global Healthcare Services industry average (38.8x)


Price to Earnings Ratio vs Fair Ratio

What is DOCS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DOCS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio52.1x
Fair PE Ratio35.4x

Price-To-Earnings vs Fair Ratio: DOCS is expensive based on its Price-To-Earnings Ratio (52.1x) compared to the estimated Fair Price-To-Earnings Ratio (35.4x).


Share Price vs Fair Value

What is the Fair Price of DOCS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DOCS ($37.28) is trading above our estimate of fair value ($26.88)

Significantly Below Fair Value: DOCS is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DOCS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$37.28
US$40.79
+9.4%
22.4%US$60.00US$27.00n/a14
Jan ’24US$33.56
US$41.61
+24.0%
20.3%US$60.00US$27.00n/a17
Dec ’23US$34.78
US$41.61
+19.6%
20.3%US$60.00US$27.00n/a17
Nov ’23US$26.23
US$41.38
+57.7%
21.5%US$60.00US$27.00n/a17
Oct ’23US$30.22
US$43.49
+43.9%
19.2%US$60.00US$29.00n/a15
Sep ’23US$32.69
US$44.32
+35.6%
18.8%US$60.00US$29.00n/a14
Aug ’23US$42.80
US$48.32
+12.9%
16.1%US$67.00US$35.00n/a14
Jul ’23US$36.72
US$47.25
+28.7%
19.0%US$67.00US$35.00n/a12
Jun ’23US$35.53
US$47.25
+33.0%
19.0%US$67.00US$35.00n/a12
May ’23US$39.87
US$65.91
+65.3%
10.9%US$78.00US$55.00n/a11
Apr ’23US$52.79
US$68.10
+29.0%
11.5%US$81.00US$55.00n/a10
Mar ’23US$58.12
US$69.00
+18.7%
10.1%US$81.00US$60.00n/a10
Feb ’23US$49.16
US$72.30
+47.1%
18.2%US$90.00US$45.00US$37.2810
Jan ’23US$50.13
US$72.30
+44.2%
18.2%US$90.00US$45.00US$33.5610
Dec ’22US$64.76
US$74.33
+14.8%
16.2%US$90.00US$45.00US$34.789
Nov ’22US$73.73
US$63.50
-13.9%
14.9%US$71.00US$40.00US$26.238
Oct ’22US$79.39
US$63.50
-20.0%
14.9%US$71.00US$40.00US$30.228
Sep ’22US$91.00
US$63.50
-30.2%
14.9%US$71.00US$40.00US$32.698
Aug ’22US$61.90
US$58.38
-5.7%
16.3%US$68.00US$36.00US$42.808

Analyst Forecast: Target price is less than 20% higher than the current share price.


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