DocGo (NASDAQ:DCGO) Price Target Cut to $7.00 by Analysts at Needham & Company LLC

DocGo (NASDAQ:DCGO) had its price objective lowered by analysts at Needham & Company LLC from $10.00 to $7.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 127.27% from the company’s current price.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group dropped their price target on DocGo from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Stifel Nicolaus dropped their target price on DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Cantor Fitzgerald dropped their price objective on shares of DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday. Finally, BTIG Research dropped their price target on shares of DocGo from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.75.

DocGo Trading Down 12.0 %

Shares of DCGO traded down $0.42 during midday trading on Thursday, reaching $3.08. The stock had a trading volume of 1,983,636 shares, compared to its average volume of 1,452,829. DocGo has a one year low of $2.78 and a one year high of $10.82. The firm has a market cap of $320.85 million, a PE ratio of 43.86, a P/E/G ratio of 0.41 and a beta of 0.96. The firm has a 50 day simple moving average of $3.70 and a 200-day simple moving average of $4.42.

DocGo (NASDAQ:DCGO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). DocGo had a return on equity of 2.01% and a net margin of 1.10%. The firm had revenue of $199.25 million for the quarter, compared to the consensus estimate of $195.48 million. As a group, research analysts forecast that DocGo will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael J. Burdiek bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $3.61 per share, for a total transaction of $36,100.00. Following the completion of the acquisition, the director now owns 571,595 shares of the company’s stock, valued at $2,063,457.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.78% of the company’s stock.

Institutional Investors Weigh In On DocGo

Hedge funds have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C lifted its position in DocGo by 55.7% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock valued at $25,392,000 after acquiring an additional 1,705,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in DocGo by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,672,582 shares of the company’s stock worth $24,905,000 after purchasing an additional 55,246 shares during the last quarter. WCM Investment Management LLC raised its stake in DocGo by 1.7% during the 1st quarter. WCM Investment Management LLC now owns 2,627,032 shares of the company’s stock valued at $10,613,000 after buying an additional 44,359 shares during the last quarter. S Squared Technology LLC lifted its holdings in shares of DocGo by 36.7% during the 4th quarter. S Squared Technology LLC now owns 1,024,438 shares of the company’s stock valued at $5,727,000 after buying an additional 275,000 shares during the period. Finally, P.A.W. Capital Corp lifted its holdings in DocGo by 50.0% in the fourth quarter. P.A.W. Capital Corp now owns 900,000 shares of the company’s stock valued at $5,031,000 after acquiring an additional 300,000 shares during the period. Institutional investors own 56.44% of the company’s stock.

About DocGo

DocGo Inc provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include emergency response services; and non-emergency transport services comprise ambulance and wheelchair transportation services.