Needham & Company LLC Lowers DocGo (NASDAQ:DCGO) Price Target to $7.00

DocGo (NASDAQ:DCGO) had its price target decreased by Needham & Company LLC from $10.00 to $7.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 127.27% from the stock’s current price.

Several other equities research analysts have also weighed in on DCGO. BTIG Research cut their target price on shares of DocGo from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Canaccord Genuity Group dropped their price objective on DocGo from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Stifel Nicolaus dropped their price target on DocGo from $8.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Cantor Fitzgerald dropped their price target on DocGo from $11.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $7.75.

DocGo Stock Performance

DocGo stock traded down $0.42 during trading hours on Thursday, reaching $3.08. 1,983,636 shares of the company’s stock traded hands, compared to its average volume of 1,452,829. DocGo has a fifty-two week low of $2.78 and a fifty-two week high of $10.82. The firm has a market capitalization of $320.85 million, a price-to-earnings ratio of 43.86, a PEG ratio of 0.41 and a beta of 0.96. The firm’s 50 day moving average is $3.70 and its 200-day moving average is $4.42.

DocGo (NASDAQ:DCGO) last released its earnings results 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 net margin of 1.10% and a return on equity of 2.01%. The company had revenue of $199.25 million during the quarter, compared to analyst estimates of $195.48 million. Analysts predict that DocGo will post 0.31 EPS for the current year.

Insider Buying and Selling at DocGo

In other news, Director Michael J. Burdiek acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $3.61 per share, with a total value of $36,100.00. Following the completion of the transaction, the director now directly owns 571,595 shares of the company’s stock, valued at approximately $2,063,457.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of DocGo by 8.3% during the third quarter. Arizona State Retirement System now owns 26,516 shares of the company’s stock valued at $141,000 after acquiring an additional 2,042 shares during the last quarter. Worth Venture Partners LLC raised its position in shares of DocGo by 36.3% during the third quarter. Worth Venture Partners LLC now owns 16,028 shares of the company’s stock worth $85,000 after acquiring an additional 4,265 shares during the last quarter. AJOVista LLC bought a new position in shares of DocGo during the fourth quarter worth about $25,000. Principal Financial Group Inc. raised its position in shares of DocGo by 25.2% during the third quarter. Principal Financial Group Inc. now owns 25,591 shares of the company’s stock worth $136,000 after acquiring an additional 5,154 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DocGo by 42.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,020 shares of the company’s stock worth $128,000 after purchasing an additional 7,166 shares during the period. 56.44% of the stock is currently owned by institutional investors.

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.