Canaccord Genuity Group Cuts DocGo (NASDAQ:DCGO) Price Target to $1.50

DocGo (NASDAQ:DCGO) had its price target decreased by research analysts at Canaccord Genuity Group from $1.60 to $1.50 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 36.36% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Zacks Research upgraded shares of DocGo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of DocGo in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.21.

DocGo Trading Down 0.9%

Shares of NASDAQ:DCGO opened at $1.10 on Wednesday. The company has a market cap of $107.59 million, a price-to-earnings ratio of -2.12 and a beta of 0.93. The company has a 50-day moving average price of $1.31 and a 200-day moving average price of $1.49. DocGo has a 12 month low of $0.97 and a 12 month high of $5.68.

DocGo (NASDAQ:DCGO) last announced its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $70.81 million for the quarter, compared to the consensus estimate of $69.96 million. DocGo had a negative net margin of 14.02% and a negative return on equity of 8.80%. DocGo has set its FY 2025 guidance at EPS. As a group, research analysts forecast that DocGo will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On DocGo

Large investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in DocGo in the 1st quarter worth $34,000. CWM LLC boosted its holdings in DocGo by 2,613.3% during the 2nd quarter. CWM LLC now owns 21,978 shares of the company’s stock valued at $35,000 after acquiring an additional 21,168 shares during the period. Cerity Partners LLC acquired a new stake in shares of DocGo in the second quarter valued at $37,000. Engineers Gate Manager LP purchased a new stake in shares of DocGo in the 2nd quarter valued at approximately $52,000. Finally, Strs Ohio acquired a new position in DocGo in the first quarter valued at approximately $76,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.