1 Growth Stock's Dominant Grip Just Got Stronger
Doximity (NYSE: DOCS) is one of the leading digital platforms for U.S. medical professionals and students. The company aims to help physicians be more productive in the workplace and provide better care by offering collaboration tools, telehealth services, and newsfeeds for its users. With over 80% of all medical professionals in the U.S. using Doximity, the company clearly has been doing this quite well.
Doximity just reported third-quarter results for its 2022 fiscal year, and the company blew away expectations. Revenue grew 67% year over year (YOY) to $98 million while net income jumped 223% to nearly $56 million. The company also made an acquisition that could potentially expand its dominance. Everything is moving in the right direction for Doximity -- and this quarter proved that -- which is why it might be smart for investors to consider picking up a few shares.
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Source Fool.com
