FY2024 Earnings Estimate for DocGo Inc. Issued By Northland Capmk (NASDAQ:DCGO)

DocGo Inc. (NASDAQ:DCGO) – Analysts at Northland Capmk dropped their FY2024 earnings estimates for DocGo in a report released on Tuesday, April 9th. Northland Capmk analyst M. Latimore now anticipates that the company will post earnings of $0.27 per share for the year, down from their previous forecast of $0.29. The consensus estimate for DocGo’s current full-year earnings is $0.36 per share.

DocGo (NASDAQ:DCGO) last announced 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 for the quarter, compared to analysts’ expectations of $195.48 million.

DCGO has been the topic of several other research reports. Cantor Fitzgerald reduced their price target on shares of DocGo from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Canaccord Genuity Group cut their price objective on shares of DocGo from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday. BTIG Research cut their price objective on shares of DocGo from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC cut their price objective on shares of DocGo from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Stifel Nicolaus cut their price objective on shares of DocGo from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.83.

DocGo Price Performance

Shares of NASDAQ DCGO opened at $3.36 on Thursday. DocGo has a 1 year low of $2.78 and a 1 year high of $10.82. The company’s 50-day moving average is $3.74 and its 200 day moving average is $4.71. The stock has a market capitalization of $349.49 million, a P/E ratio of 47.93, a P/E/G ratio of 0.37 and a beta of 0.91.

Insider Transactions at DocGo

In other news, Director Michael J. Burdiek bought 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $3.61 per share, for a total transaction of $36,100.00. Following the completion of the purchase, the director now owns 571,595 shares in the company, valued at approximately $2,063,457.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DCGO. The Manufacturers Life Insurance Company lifted its position in DocGo by 3.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,603 shares of the company’s stock valued at $223,000 after purchasing an additional 1,135 shares during the period. Price T Rowe Associates Inc. MD lifted its position in DocGo by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,617 shares of the company’s stock valued at $136,000 after purchasing an additional 1,174 shares during the period. Legal & General Group Plc lifted its position in DocGo by 4.1% during the fourth quarter. Legal & General Group Plc now owns 33,116 shares of the company’s stock valued at $234,000 after purchasing an additional 1,303 shares during the period. Victory Capital Management Inc. lifted its position in DocGo by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 22,010 shares of the company’s stock valued at $220,000 after purchasing an additional 1,312 shares during the period. Finally, Arizona State Retirement System lifted its position in DocGo by 8.3% during the third quarter. Arizona State Retirement System now owns 26,516 shares of the company’s stock valued at $141,000 after purchasing an additional 2,042 shares during the period. Institutional investors own 56.44% 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.