Dj Doximity Price Target Raised To $48.00/Share From $30.00 By Jp Morgan

For Immediate Release

Chicago, IL – November 20, 2024 – Stocks in this week’s article are Doximity, Inc. DOCS, Impinj, Inc. PI and Innodata Inc. INOD.

3 Momentum Anomaly Stocks to Buy as Election Rally Fizzles

The broader U.S. equity markets have witnessed significant volatility over the past few trading days as the post-election rally fizzled due to concerns regarding potential policy shifts under the new administration. The markets were further weighed down by apprehensions about the pace of interest rate cuts as healthy economic growth offered some leeway to go slow on the proposed monetary easing. However, solid earnings from blue-chip technology stocks helped markets recover some lost ground.

With NVIDIA results around the corner, markets remained upbeat as experts anticipate robust demand trends for its Blackwell AI (artificial intelligence) chips. Amid the uncertainty, investors often seek to employ time-tested winning strategies to fetch sustained profits. One of the most successful game plans to beat the blues is to bet on momentum stocks like Doximity, Inc., Impinj, Inc. and Innodata Inc. when value or growth investing fails to generate the desired profits.

This approach primarily tends to follow the adage, “the trend is your friend.” At its core, momentum investing is “buying high and selling higher.” It is based on the idea that once a stock establishes a trend, it is more likely to continue in that direction because of the momentum that is already behind it. Momentum investing is a way to profit from the general human tendency to extrapolate current trends into the future. It is based on that gap in time before the mean reversion occurs, i.e., before prices become rational again.

Momentum strategies have been known to be alpha-generative over a long period and across market stages. So, this strategy is quite tricky to implement, as detecting these trends is no child’s play. Here, we have created a strategy to help investors get in on these fast movers and rake in handsome gains. Our screen will help you benefit from both long-term price momentum and a short-term pullback in price.

Here are three stocks out of eight that made it through this screen:

Headquartered in San Francisco, CA, Doximity operates a cloud-based digital platform for medical professionals in the United States. The company offers digital tools for medicine that enable members to collaborate with colleagues, stay up to date about the latest medical news and research, streamline documentation and administrative paperwork, and conduct virtual patient visits. The stock has surged 113.8% in the past year but declined 14.8% in the past week. Doximity has a Momentum Score of A.

Headquartered in Seattle, WA, Impinj operates a cloud connectivity platform that wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, miniature radios-on-a-chip that attach to a host item and include a number to identify the item. The stock has rallied 112.9% in the past year but declined 11.7% in the past week. Impinj has a Momentum Score of B.

Headquartered in Ridgefield Park, NJ, Innodata is a global data engineering firm that helps leading technology companies and enterprises drive Generative AI / AI innovation. It offers a range of transferable solutions, platforms and services for Generative AI / AI builders and adopters. The stock has skyrocketed 380.2% in the past year but declined 9.7% in the past week. Innodata has a Momentum Score of A.

You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your trading. Further, you can also create your own strategies and test them first before taking the investment plunge.

The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

Click here to sign up for a free trial to the Research Wizard today.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2372020/3-momentum-anomaly-stocks-to-buy-as-election-rally-fizzles

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Contact: Jim Giaquinto

Company: Zacks.com

Phone: 312-265-9268

Email: pr@zacks.com

Visit: https://www.zacks.com/

Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks Investment Research

For Immediate Release

Chicago, IL – November 20, 2024 – Stocks in this week’s article are Amazon.com AMZN, Maplebear Inc. CART, Exelixis EXEL and Doximity DOCS.

Hunting for Earnings Beats? Try These 4 Top-Ranked Stocks

It is not surprising that before any earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are of high quality.

In this regard, we ran a screener that yielded stocks Amazon.com, Maplebear Inc., Exelixis and Doximity as the likely winners on the earnings beat potential.

Why Is a Positive Earnings Surprise So Important?

Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations. After all, a 20% earnings rise (though apparently looks good) doesn’t tell you if earnings growth has been exhibiting a decelerating trend.

Also, seasonal fluctuations come into play sometimes. If a company’s Q1 is seasonally weak and Q4 strong, then it is likely to report a sequential earnings decline. In such cases, growth rates are misleading while judging the true health of a company.

On the other hand, after much brainstorming and analysis of companies’ financials and initiatives, Wall Street analysts project earnings of companies. They in fact club their insights and a company’s guidance when deriving an earnings estimate.

Thus, outperforming that estimate is almost equivalent to beating the company’s own expectation as well as the market perception. And if the margin of earnings surprise is big, it typically drives the stock higher right after the release. Thus, more than anything else, an earnings surprise can push a stock higher.

How to Find Stocks that Can Beat?

Now, finding stocks that have the potential to beat on the bottom line may be investors’ dream but not an easy job. One way to do this is to look at the earnings surprise history of the company.

An impressive track in this regard generally acts as a catalyst in sending a stock higher. It indicates the company’s ability to surpass estimates. And investors generally believe that the company will apply the same secret sauce to execute yet another earning beat in its next release.

Here are four out of 20 stocks:

Amazon.com:The Zacks Rank #1 company is one of the largest e-commerce providers, with sprawling operations in North America, now spreading across the globe. You can see the complete list of today’s Zacks #1 Rank stocks here.

The average earnings surprise of AMZN for the past four quarters is 25.85%.

Maplebear: Maplebear Inc. is a grocery technology company principally in North America that works with grocers and retailers to transform how people shop. The FTNT stock has a Zacks Rank #2.

The average earnings surprise of CART for the past four quarters is 442.44%.

Exelixis: The Zacks Rank #2 company is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers.

The average earnings surprise of EXEL for the past four quarters is 26.52%.

Doximity: Doximity Inc. provides a digital platform for medical professionals. The company's network members include physicians across all specialties and practice areas.The stock has a Zacks Rank #1.

The average earnings surprise of DOCS for the past four quarters is 22.12%.

You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.

The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

Click here to sign up for a free trial to the Research Wizard today.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2371934/looking-for-earnings-beat-buy-these-4-top-ranked-stocks

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Contact: Jim Giaquinto

Company: Zacks.com

Phone: 312-265-9268

Email: pr@zacks.com

Visit: https://www.zacks.com/

Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks Investment Research