My Top Pick for a more pure growth investment comes right from the our quantitative research process; each day our systems sweep through more than 6,000 US stocks and ADRs to identify the best in show, suggests Jason Bodner, co-founder and editor at MAPSignals.
The process has reliably identified many top performing stocks year after year. The data history goes back to 1990 with stunning results using the same weekly process.
Doximity (DOCS) is interesting in that it melds two sectors: healthcare and tech. It is technically in the Healthcare sector and in the Healthcare Administrative Support Services industry, however Doximity operates an online platform for medical professionals.
Its cloud-based software has the ability to enable users to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.
The company was founded by Shari Buck, Konstantin Guericke, Nate Gross, and Jeffrey A. Tangney on April 16, 2010 and is headquartered in San Francisco, CA. It is a small cap company with terrific growth prospects.
Health records continually move to digitized versions as opposed to old paper files. The same is true for care and collaboration. Health is generally a recession resistant industry as sick people need care regardless of the economy.
DOCS has solid fundamentals such as 1-year sales growth of 66.0%, 3-year sales growth of 59.9%,1-year earnings growth of 18.0%, 3-year earnings growth of 797.2%, and a profit margin of 39%. It has double-digit positive estimated 1 year sales and earnings growth too.
Buy signals for DOCS were very prominent in 2021 — but that abruptly ended as the market shifted away from growth as it became unfavorable. But with it’s outstanding fundamentals, and recent buying support, there are strong odds for Doximity to see a resurgence in share price for 2023.
Additionally, the MAP Top 20 report is a list of the 20 strongest stocks getting bought in an unusual way. These stocks have historically market-beating returns over our 32 + year data history. We can see that DOCS just made a new entry into the top 20.
Healthcare companies, specifically Healthcare Administrative Support Services have been seeing unusual buy signals in our research lately. DOCS has appeared on my top 20 report 11 times since July of 2014. It has great fundamentals, visible institutional support, and a high Map Score Score of 70.7 as of December 2022.