Shares of Doximity (NYSE: DOCS) went public last month and quickly became one of the healthcare sector's hot new stocks this year. The company aims to make the lives of physicians easier and improve efficiency, allowing them to collaborate and stay up to date with news and research. The company is also in the telehealth business, giving doctors access to video dialers that allow them to easily contact their patients.
Healthcare innovation has been a popular investing trend recently, especially during the coronavirus pandemic when there was a need for more creative solutions for people stuck at home. Doximity has benefited from this trend, rising 15% in value since its IPO against the S&P 500 's 4%. Calling it "LinkedIn for Doctors," many investors are bullish on the company's future given its impressive results and growth rate. But is the stock, which is close to an $11 billion valuation, already overpriced? Or is Doximity the real deal, and the next big growth stock to add to your portfolio?
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For further details see:
Is This New Healthcare IPO Worth the Hype?