Brokerages Set DocGo Inc. (NASDAQ:DCGO) Price Target at $3.56

DocGo Inc. (NASDAQ:DCGO) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.56.

A number of equities analysts recently issued reports on DCGO shares. BTIG Research cut DocGo from a “buy” rating to a “neutral” rating in a report on Friday, May 9th. Canaccord Genuity Group restated a “hold” rating and set a $1.45 price objective (down previously from $5.00) on shares of DocGo in a report on Monday, May 12th. Finally, Needham & Company LLC dropped their price objective on DocGo from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, May 9th.

DocGo Stock Performance

Shares of DocGo stock opened at $1.59 on Thursday. The stock has a market cap of $161.64 million, a price-to-earnings ratio of -79.25 and a beta of 0.97. The stock has a 50 day moving average price of $1.64 and a 200-day moving average price of $2.98. DocGo has a one year low of $1.23 and a one year high of $5.68.

DocGo (NASDAQ:DCGO) last announced its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). The company had revenue of $96.03 million during the quarter, compared to analysts’ expectations of $104.25 million. DocGo had a positive return on equity of 2.52% and a negative net margin of 0.12%. Sell-side analysts predict that DocGo will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DocGo

Several hedge funds have recently made changes to their positions in DCGO. Summit Securities Group LLC purchased a new stake in shares of DocGo in the 1st quarter worth $34,000. Summit Investment Advisors Inc. lifted its holdings in shares of DocGo by 38.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock worth $45,000 after buying an additional 2,968 shares during the period. Prudential Financial Inc. purchased a new stake in shares of DocGo in the 4th quarter worth $55,000. Royce & Associates LP purchased a new stake in shares of DocGo in the 4th quarter worth $64,000. Finally, Strs Ohio purchased a new stake in shares of DocGo during the 1st quarter worth $76,000. 56.44% of the stock is currently 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.