The stock market has been rallying of late as many struggling stocks have emerged from deeply discounted valuations. But just because you didn't buy near the bottom doesn't mean this isn't a good time to invest. There is no shortage of promising growth stocks that you can justify adding to your portfolio right now.

Shares of Doximity (DOCS 2.07%) and Netflix (NFLX -0.57%) are still nowhere near the highs the reached last year. Both businesses still look to be in solid shape, and their current prices may look incredibly cheap in a few years. Investing $5,000 or more into either stock could prove to be a great move today.

1. Doximity

If you like tech stocks and want the long-term stability of the healthcare industry, Doximity can make for a fantastic long-term investment. The company aims to make the lives of doctors easier by creating a network for them to easily collaborate and stay on top of industry news. It also provides them with a dialer app that makes contacting patients efficient while maintaining their privacy.

Doximity does trade like more of a tech stock than it does a healthcare one, with a price-to-earnings (P/E) multiple of around 50. That's a steep price tag, but it can still be worth it in the long haul, if you're willing to hang on. 

What's attractive about the business is that it's growing while enjoying reporting high margins. Sales of $90.6 million for the period ended June 30 rose 25% year over year. Doximity's gross profit margin on that was 86%. That's a high percentage, and it can make growing the bottom line easier.

Over time, as profits continue to rise, that high P/E multiple will come down and become more tenable to investors. The big challenge for Doximity today is keeping its overhead down -- sales and marketing costs of $28 million last quarter represented its largest expense. If it can keep those costs down, its profits could quickly surge.

At a peak of nearly $108 last year, the stock is trading at less than one-third of that price tag today. It doesn't mean it will get back to those inflated levels, but given the potential that Doximity has as a top social network for doctors, it may only be a matter of time before it starts to rally. Year to date, its shares have fallen 35% while the S&P 500 has declined by just 13%.

2. Netflix

Netflix's streaming business isn't in as much trouble as bearish investors would have you think. News of a drop in subscriber numbers earlier this year has spooked investors as shares of the tech company have nosedived more than 62% in 2022. Even though the stock has rallied in recent weeks, it's still down close to 70% from its 52-week high of $700.99.

Unlike Doximity, Netflix trades at an attractive P/E of 21. That's incredible for a business that has plenty of runway to generate more sales. While investors may be obsessing about subscriber numbers, the bigger story is that the business is being more diligent and selective on content, and it will pay more attention to its costs than it did before. It has been laying off staff and cutting content in a bid to become more profitable.

While that could lead to some near-term pain and further subscriber losses, it should make the business stronger in the end. Plus, the company is going to be adding ad-based plans while also cracking down on password sharing. Those combined efforts could help the business end up adding to its subscriber base in the long run, all while being leaner and more profitable.

And despite the subscriber decline, the company still generated nearly $8 billion in revenue last quarter (ended June 30), reflecting a year-over-year increase of 8.5%. Its profit was also 18% of its top line, totaling $1.4 billion.

Netflix's business is by no means broken, and it could look a lot better in the future. Buying the stock today could be a great move for long-term investors.