Doximity Has Succeeded Where Other Advertising Stocks Couldn't
The slowdown in advertising demand has affected businesses of all sizes. As enterprises fear an economic deceleration and cut back budgets, ad spending is one of the first things to go. Even Alphabet is feeling the pressure, as seen in its most recent quarterly results.
However, Doximity's (NYSE: DOCS) platform has barely seen the crunch from this advertising slowdown. The company is often called the "LinkedIn for doctors," since it works to help healthcare professionals grow their careers and operate their practices more efficiently. Importantly, Doximity is a leader, with over 80% of U.S. physicians already using its platform. Considering how valuable its customer base is to pharma companies looking to advertise to healthcare professionals, demand for ad space on its platform has remained remarkably healthy.
Does this resiliency mean that Doximity is a stock to buy and hold for the long haul? Let's find out.
Source Fool.com
