We recently published an article entitled Why These 10 Stocks Jumped Yesterday. In this article, we are going to take a look at where Doximity Inc. (NYSE:DOCS) stands against the other stocks that jumped yesterday.

Broader indices haven't been performing very well since the Fed's not so surprise revelation about the number of expected cuts in 2025. Nevertheless, several stocks on Thursday posted notable gains.

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

Doximity Inc. (NYSE:DOCS)

Shares of Doximity (DOCS) on Thursday rose by 5.73 percent or $2.99 to finish at $55.18, bucking news that a shareholder rights law firm was investigating potential claims against its business prospects and financial performance.

Hedge funds posted a positive outlook for Doximity, with ClearBridge Investments posting confidence in the company’s stock price, even naming it as its top pick in the healthcare sector.

In a letter to investors, ClearBridge said: “The company has a history of consistent execution and, while it stumbled last year in effectively communicating realistic guidance and outlooks, it appears that management has regained investors’ trust through several quarters of solid execution.”

In addition, Doximity announced in its recent State of Telemedicine Report that 83 percent of medical professionals based in the US still prefer having virtual care be a permanent part of their clinical practice—a widespread support that could play a key role in driving the company’s future growth.

Overall DOCS ranks 6th on our list of the stocks that jumped yesterday. 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 more promising than DOCS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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