Many investors are reevaluating stocks as major stock market indices reach new highs. It’s important to remember that the stock market is cyclical, with both bear and bull markets being a natural part of the cycle. Despite fluctuations in share prices, some businesses are thriving.
One such business is Doximity (DOCS), a platform that offers services for healthcare professionals. Despite a decrease in its share price, Doximity is seeing strong profits. In the third quarter of fiscal 2024, the company reported a 43% increase in GAAP profits and a 17% increase in revenue compared to the previous year.
Ulta Beauty (ULTA) is another company that is performing well despite a 22% decrease in its stock price over the past year. With over 1,350 stores in the U.S., Ulta Beauty offers a wide range of beauty products and services. The company’s loyalty program, which drives 95% of its sales, has been key to its success.
Both Doximity and Ulta Beauty have the potential for significant growth, with Wall Street analysts predicting upside for both stocks. These companies have strong fundamentals and diverse sources of revenue, making them attractive investment opportunities for long-term investors.