Is Doximity a Buy?
Doximity (NYSE: DOCS) was a hot stock when it went public in 2021. Its shares would rise to a value of more than $100 in September of that year before ultimately falling heavily. Today, at around $40 per share, it's nowhere near those highs. However, its valuation was already too rich at those levels.
Its business, which centers around a networking platform for doctors that makes it easy for them to connect with peers and patients, has continued to grow at impressive rates. Now, at a lower valuation, is the stock a good buy today? Let's see.
A big reason to buy the stock is for the potential that Doximity possesses. Businesses are becoming more digitized, and the need for efficient workflows, even among doctors, is important. And that's one of the things Doximity helps to do, making it easier for them to collaborate. Physicians also have access to a dialer that can mask their phone numbers while still showing patients that the call is coming from their doctor's office.
Source Fool.com
