Why Doximity, Inc. (DOCS) Soared Last Week?

We recently published a list of 10 Firms That Soared Last Week. In this article, we are going to take a look at where Doximity, Inc. (NYSE:DOCS) stands against other firms that soared last week.

Last week saw volatile trading in the stock market as investors scrambled to react from a series of positive and negative catalysts which sparked buying and selling positions across the board.

On Friday alone, Wall Street’s major indices fell into the red territory over renewed fears of growing trade tensions from some of the world’s largest economies, coupled with expectations of a higher inflation rate.

However, 10 firms defied a broader market slump, posting impressive gains in just a week’s trading.

To come up with last week’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A pathologist and a laboratory assistant in a laboratory researching medical news and data.

Doximity, Inc. (NYSE:DOCS)

Doximity, Inc. (NYSE:DOCS) saw its share prices shoot up by 34 percent on a weekly basis to end at $79.23 apiece as investors gobbled up shares in the company after reporting an impressive earnings performance in the third quarter of fiscal year 2025.

In its earnings release, Doximity (NYSE:DOCS) said net income in the third quarter jumped by 57 percent to $75.2 million from $48 million year-on-year, while net profit for the first nine months surged by 50.2 percent to $160.7 million from $106.96 million year-on-year.

Meanwhile, revenues for the quarter grew by 24.6 percent to $168.6 million from $135.28 million year-on-year, while revenues in the nine-month period rose by 21 percent to $432 million from the $357 million registered in the same period a year earlier.

For the full fiscal year ending March 31, 2025, Doximity (NYSE:DOCS) expects revenues to settle between $564.6 million and $565.6 million.

Overall, DOCS ranks 3rd on our list of firms that soared last week. While we acknowledge the potential of DOCS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as DOCS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.