Doximity, Inc.'s (NYSE:DOCS) Popularity With Investors Under Threat As Stock Sinks 37%
Doximity, Inc.'s (NYSE:DOCS) Popularity With Investors Under Threat As Stock Sinks 37%
To the annoyance of some shareholders, Doximity, Inc. (NYSE:DOCS) shares are down a considerable 37% in the last month, which continues a horrid run for the company. Longer-term shareholders will rue the drop in the share price, since it's now virtually flat for the year after a promising few quarters.
令一些股東惱火的是，Doximity公司(紐約證券交易所股票代碼：DOCS)的股價在過去一個月裏大幅下跌了37%，這對該公司來説繼續着可怕的漲勢。較長期的股東將為股價下跌感到後悔，因為在經歷了幾個充滿希望的季度後，今年的股價幾乎持平。
In spite of the heavy fall in price, given close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 15x, you may still consider Doximity as a stock to avoid entirely with its 32.9x P/E ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.
儘管股價大幅下跌，但鑑於近一半的美國公司的市盈率(P/E)低於15倍，你可能仍然會考慮將Doximity作為一隻股票來完全避免其32.9倍的市盈率。儘管如此，我們還需要更深入地挖掘，以確定市盈率大幅上升是否有合理的基礎。
Doximity certainly has been doing a good job lately as it's been growing earnings more than most other companies. It seems that many are expecting the strong earnings performance to persist, which has raised the P/E. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.
Doximity最近肯定做得很好，因為它的收益增長速度超過了大多數其他公司。似乎許多人預計強勁的盈利表現將持續下去，這提高了市盈率。你真的希望如此，否則你會毫無理由地付出相當大的代價。
See our latest analysis for Doximity
查看我們對Doximity的最新分析
Does Growth Match The High P/E?
增長是否與高市盈率相匹配？
There's an inherent assumption that a company should far outperform the market for P/E ratios like Doximity's to be considered reasonable.
有一種固有的假設，即一家公司的市盈率應該遠遠超過市場，因為Doximity這樣的市盈率才是合理的。
Taking a look back first, we see that the company grew earnings per share by an impressive 272% last year. The strong recent performance means it was also able to grow EPS by 9,855% in total over the last three years. So we can start by confirming that the company has done a great job of growing earnings over that time.
先回過頭來看，該公司去年的每股收益增長了272%，令人印象深刻。最近的強勁表現意味着它在過去三年中每股收益也總共增長了9855%。因此，我們可以從確認該公司在這段時間內在增長收益方面做得很好開始。
Shifting to the future, estimates from the ten analysts covering the company suggest earnings should grow by 11% per year over the next three years. That's shaping up to be similar to the 11% each year growth forecast for the broader market.
展望未來，跟蹤該公司的十位分析師的預測顯示，未來三年，該公司的收益將以每年11%的速度增長。這將與大盤每年11%的增長預期相仿。
In light of this, it's curious that Doximity's P/E sits above the majority of other companies. It seems most investors are ignoring the fairly average growth expectations and are willing to pay up for exposure to the stock. These shareholders may be setting themselves up for disappointment if the P/E falls to levels more in line with the growth outlook.
有鑑於此，令人好奇的是，Doximity的市盈率高於大多數其他公司。似乎大多數投資者忽視了相當平均的增長預期，願意為股票敞口支付高價。如果市盈率降至更符合增長前景的水平，這些股東可能會感到失望。
What We Can Learn From Doximity's P/E?
我們能從Doximity的市盈率中學到什麼？
A significant share price dive has done very little to deflate Doximity's very lofty P/E. Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
股價的大幅下跌對降低Doximity非常高的市盈率幾乎沒有起到什麼作用。通常情況下，我們在做出投資決策時會告誡不要過度解讀市盈率，儘管它可以充分揭示其他市場參與者對該公司的看法。
We've established that Doximity currently trades on a higher than expected P/E since its forecast growth is only in line with the wider market. Right now we are uncomfortable with the relatively high share price as the predicted future earnings aren't likely to support such positive sentiment for long. This places shareholders' investments at risk and potential investors in danger of paying an unnecessary premium.
我們已經確定，Doximity目前的市盈率高於預期，因為它的預期增長只是與更廣泛的市場一致。目前，我們對相對較高的股價感到不安，因為預計的未來收益不太可能長期支持這種積極的情緒。這使股東的投資面臨風險，潛在投資者面臨支付不必要溢價的危險。
You should always think about risks. Case in point, we've spotted 4 warning signs for Doximity you should be aware of, and 2 of them shouldn't be ignored.
你應該時刻考慮風險。舉個例子，我們發現多氧症的4個警告徵兆你應該意識到，其中有兩個不應該被忽視。
It's important to make sure you look for a great company, not just the first idea you come across. So take a peek at this free list of interesting companies with strong recent earnings growth (and a P/E ratio below 20x).
重要的是確保你尋找的是一家偉大的公司，而不僅僅是你遇到的第一個想法。所以讓我們來看看這個免費近期盈利增長強勁(市盈率低於20倍)的有趣公司名單。
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本文由Simply Wall St.撰寫，具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
譯文內容由第三人軟體翻譯。