DocGo (NASDAQ:DCGO) Earns “Hold” Rating from Canaccord Genuity Group

DocGo (NASDAQ:DCGO)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity Group in a note issued to investors on Monday,Benzinga reports. They presently have a $1.45 price objective on the stock, down from their previous price objective of $5.00. Canaccord Genuity Group’s target price indicates a potential upside of 2.84% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of DocGo from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut shares of DocGo from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.00 to $2.85 in a research note on Friday, February 28th. BTIG Research lowered shares of DocGo from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Stifel Nicolaus reduced their price target on shares of DocGo from $6.50 to $5.50 and set a “buy” rating on the stock in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DocGo currently has an average rating of “Moderate Buy” and a consensus price target of $3.56.

DocGo Stock Performance

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

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

Hedge Funds Weigh In On DocGo

A number of large investors have recently modified their holdings of DCGO. Summit Investment Advisors Inc. lifted its position in shares of DocGo by 38.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock worth $45,000 after purchasing an additional 2,968 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of DocGo during the fourth quarter worth approximately $55,000. Royce & Associates LP acquired a new position in shares of DocGo during the fourth quarter worth approximately $64,000. Boothbay Fund Management LLC lifted its position in shares of DocGo by 154.9% during the fourth quarter. Boothbay Fund Management LLC now owns 27,445 shares of the company’s stock worth $116,000 after purchasing an additional 77,445 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in DocGo by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 28,641 shares of the company’s stock valued at $121,000 after buying an additional 9,425 shares during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.