Needham & Company LLC Issues Pessimistic Forecast for DocGo (NASDAQ:DCGO) Stock Price

DocGo (NASDAQ:DCGO) had its price target lowered by analysts at Needham & Company LLC from $4.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 112.77% from the company’s current price.

Several other brokerages have also commented on DCGO. BTIG Research lowered DocGo from a “buy” rating to a “neutral” rating in a research note on Friday. Stifel Nicolaus cut their price objective on shares of DocGo from $6.50 to $5.50 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft lowered DocGo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.00 to $2.85 in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocGo has an average rating of “Moderate Buy” and an average target price of $4.09.

DocGo Stock Down 39.5 %

Shares of DocGo stock opened at $1.41 on Friday. The firm has a market cap of $143.80 million, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 14.16 and a beta of 1.14. DocGo has a 52-week low of $1.39 and a 52-week high of $5.68. The company’s 50-day simple moving average is $2.52 and its 200-day simple moving average is $3.68.

DocGo (NASDAQ:DCGO) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.08). DocGo had a net margin of 4.35% and a return on equity of 8.90%. Equities research analysts anticipate that DocGo will post 0.25 EPS for the current year.

Institutional Investors Weigh In On DocGo

Several institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. raised its stake in shares of DocGo by 6,874.1% during the first quarter. Jefferies Financial Group Inc. now owns 2,029,456 shares of the company’s stock valued at $5,358,000 after purchasing an additional 2,000,356 shares during the period. Victory Capital Management Inc. increased its holdings in DocGo by 546.1% in the first quarter. Victory Capital Management Inc. now owns 372,487 shares of the company’s stock valued at $983,000 after buying an additional 314,838 shares during the last quarter. Isthmus Partners LLC increased its holdings in shares of DocGo by 2.3% in the 1st quarter. Isthmus Partners LLC now owns 638,400 shares of the company’s stock valued at $1,685,000 after acquiring an additional 14,472 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of DocGo during the first quarter worth $223,000. Finally, Bank of New York Mellon Corp lifted its holdings in DocGo by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 365,468 shares of the company’s stock worth $965,000 after acquiring an additional 27,309 shares during the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

DocGo Company Profile

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.