DocGo Inc. (NASDAQ:DCGO) to Post Q3 2024 Earnings of $0.05 Per Share, Northland Capmk Forecasts

DocGo Inc. (NASDAQ:DCGO) – Northland Capmk lowered their Q3 2024 earnings estimates for DocGo in a note issued to investors on Wednesday, May 8th. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.07. The consensus estimate for DocGo’s current full-year earnings is $0.31 per share. Northland Capmk also issued estimates for DocGo’s Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.24 EPS and FY2025 earnings at $0.16 EPS.

DocGo (NASDAQ:DCGO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) 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.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald reduced their target price on DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday. Needham & Company LLC decreased their price target on DocGo from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. BTIG Research decreased their target price on DocGo from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus dropped their price target on DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Canaccord Genuity Group dropped their target price on shares of DocGo from $9.00 to $5.00 and set a “buy” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.75.

DocGo Price Performance

DCGO opened at $3.08 on Friday. DocGo has a 12 month low of $2.78 and a 12 month high of $10.82. The stock has a market capitalization of $320.33 million, a P/E ratio of 43.93, a P/E/G ratio of 0.41 and a beta of 0.96. The business has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $4.41.

Hedge Funds Weigh In On DocGo

Several large investors have recently added to or reduced their stakes in DCGO. Isthmus Partners LLC lifted its holdings in shares of DocGo by 166.7% during the 1st quarter. Isthmus Partners LLC now owns 603,868 shares of the company’s stock worth $2,440,000 after acquiring an additional 377,462 shares during the period. Russell Investments Group Ltd. grew its position in DocGo by 172.3% during the first quarter. Russell Investments Group Ltd. now owns 95,603 shares of the company’s stock valued at $386,000 after acquiring an additional 60,498 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DocGo by 22.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,844 shares of the company’s stock worth $860,000 after purchasing an additional 38,377 shares during the period. Verdence Capital Advisors LLC acquired a new stake in DocGo during the 1st quarter worth approximately $64,000. Finally, WCM Investment Management LLC lifted its position in DocGo by 1.7% during the first 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 in the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other DocGo news, Director Michael J. Burdiek purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $3.61 per share, for a total transaction of $36,100.00. Following the acquisition, the director now 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 is accessible through this hyperlink. Company insiders own 13.78% 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.