DocGo’s (DCGO) Hold Rating Reaffirmed at Canaccord Genuity Group

DocGo (NASDAQ:DCGO)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity Group in a report issued on Monday, MarketBeat.com reports. They currently have a $1.45 price objective on the stock, down from their previous price objective of $5.00. Canaccord Genuity Group’s target price points to a potential downside of 3.33% from the stock’s current price.

A number of other equities research analysts have also recently commented on DCGO. BTIG Research cut shares of DocGo from a “buy” rating to a “neutral” rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft cut shares of DocGo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.00 to $2.85 in a research note on Friday, February 28th. Needham & Company LLC decreased 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, May 9th. Finally, Stifel Nicolaus reduced their price objective 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.56.

DocGo Stock Up 3.8%

Shares of NASDAQ DCGO opened at $1.50 on Monday. The firm’s 50-day moving average price is $2.45 and its 200-day moving average price is $3.66. The company has a market cap of $152.97 million, a PE ratio of 5.36, a PEG ratio of 14.16 and a beta of 1.14. DocGo has a 52-week low of $1.35 and a 52-week high of $5.68.

DocGo (NASDAQ:DCGO) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share 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%. The business had revenue of $96.03 million during the quarter, compared to the consensus estimate of $104.25 million. As a group, equities research analysts anticipate that DocGo will post 0.25 EPS for the current fiscal year.

Institutional Trading of DocGo

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of DocGo by 151.1% during the third quarter. JPMorgan Chase & Co. now owns 109,855 shares of the company’s stock valued at $365,000 after purchasing an additional 66,097 shares during the period. Matrix Asset Advisors Inc. NY bought a new stake in shares of DocGo in the fourth quarter valued at about $424,000. Barclays PLC raised its holdings in DocGo by 14.5% in the fourth quarter. Barclays PLC now owns 154,456 shares of the company’s stock worth $655,000 after purchasing an additional 19,533 shares in the last quarter. Vanguard Group Inc. raised its holdings in DocGo by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,014,375 shares of the company’s stock worth $21,261,000 after purchasing an additional 14,454 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in DocGo by 4.5% in the fourth quarter. Rhumbline Advisers now owns 142,762 shares of the company’s stock worth $605,000 after purchasing an additional 6,204 shares in the last quarter. 56.44% of the stock is owned by hedge funds and other 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.