1 Growth Stock Down 39% to Buy and Hold for 10 Years
Having been a publicly traded corporation for two years, Doximity (NYSE: DOCS) -- an online networking platform for medical professionals -- hasn't delivered great returns in this period, far from it. And nothing has improved this year, even as the broader stock market is doing much better than in 2022. Doximity's shares are down by 39% since 2023 started.
Several things are weighing down on the company. But there are several good reasons why a longer-term investors might want to take a closer look. Let's examine some of those reasons.
The first concern some investors may have is valuation. Doximity's stock price has looked expensive even after its recent poor performances -- sporting a forward price-to-earnings (P/E) ratio of about 26 and forward price-to-sales (P/S) ratio of 8.7. By contrast, the average forward P/E for the healthcare sector is 17.2, while a forward P/S multiple of 2 or under is typically considered good.
Source Fool.com
