Please ensure Javascript is enabled for purposes of website accessibility

The Best Social Media Stock You've Probably Never Heard Of

By Brian Withers and Taylor Carmichael – Oct 4, 2021 at 6:30AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This network for doctors hosted more virtual visits than Teladoc last year.

Doximity (DOCS 3.34%) is an online networking platform for medical professionals. A majority of doctors in the U.S. are already on the site, and the company continues to roll out new features for members.

In this video from "Beat & Raise" on Motley Fool Live, recorded on Sept. 23, Fool.com contributors Taylor Carmichael and Brian Withers discuss the company's rapid growth and whether it's a stock investors should keep an eye on.

10 stocks we like better than Doximity, Inc.
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now... and Doximity, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of September 17, 2021

 

 

Brian Withers: Taylor, we're going to kick it off with Doximity. Tell us what you like about Doximity, Taylor.

Taylor Carmichael: Well, I actually love Doximity, it's one of my favorite stocks in the telehealth space. It's an amazing company, actually. It's basically Facebook for doctors, LinkedIn for doctors. They provide collaboration online for anybody in the healthcare space. Eighty percent of American doctors are on the platform, 90% of med students are on the platform, literally, they've won the race. It's already over, race done. They've won. Now, the question, how are they going to monetize all of those eyeballs. Basically, Facebook junior. It's a specific niche, very valuable niche. They've got three business models. Their first one is marketing to doctors. The doctors are what's being sold to other people, to healthcare companies, to pharmaceutical companies. That's No. 1, No. 2 is job placement in healthcare, that's a big part of their business model, and No. 3, they just rolled it out last year in January, Dialer, which is their telehealth thing that they rolled out to all of their subscribers to enable doctors to meet with their patients online. Dialer was an amazing success. Going to make sure I get these numbers right, 60 million virtual visits. It was so much larger than Teladoc, it blew my mind.

These are free for doctors, the basic service is free, but they upcharge, and it's really cool for a doctor if you're talking to your patient online, they don't see your home phone number, so they can't bug you in your off hours. It's all done through the website, so that's a huge part of their business now. They're growing by 99%, they're already profitable. The only really downside that I see to the stock right now is it's insanely expensive. The market loves it and we bought it in my family a few days after the IPO and it's already up, whatever it is, 50% or 60%, so it's already an expensive stock and it will probably be a high-flying stock for the rest of the days. I just think this is going to be a huge name in the telehealth space, and I would urge Fools to take a look at it.

Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Taylor Carmichael owns shares of Doximity, Inc. The Motley Fool owns shares of and recommends Facebook, Microsoft, and Teladoc Health. The Motley Fool has a disclosure policy.

Stocks Mentioned

Doximity Stock Quote
Doximity
DOCS
$34.92 (3.34%) $1.13
Meta Platforms Stock Quote
Meta Platforms
META
$113.44 (-0.60%) $0.68
Microsoft Stock Quote
Microsoft
MSFT
$243.46 (-0.68%) $-1.66
Teladoc Health Stock Quote
Teladoc Health
TDOC
$25.60 (-1.69%) $0.44

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.