DocGo (NASDAQ:DCGO) Given New $5.00 Price Target at Canaccord Genuity Group

DocGo (NASDAQ:DCGO) had its target price cut by research analysts at Canaccord Genuity Group from $9.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 62.34% from the company’s current price.

Several other brokerages have also recently weighed in on DCGO. Stifel Nicolaus reduced their price target on DocGo from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC cut their target price on DocGo from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald cut their price objective on shares of DocGo from $11.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, BTIG Research cut their price target on shares of DocGo from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $7.75.

DocGo Price Performance

NASDAQ DCGO traded down $0.42 during trading hours on Thursday, reaching $3.08. 1,983,636 shares of the stock traded hands, compared to its average volume of 1,452,829. The company has a market cap of $320.85 million, a price-to-earnings ratio of 43.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.96. DocGo has a 1 year low of $2.78 and a 1 year high of $10.82. The stock has a 50 day simple moving average of $3.70 and a two-hundred day simple moving average of $4.42.

DocGo (NASDAQ:DCGO) last issued its earnings results on Wednesday, February 28th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). DocGo had a return on equity of 2.01% and a net margin of 1.10%. The firm had revenue of $199.25 million during the quarter, compared to analysts’ expectations of $195.48 million. On average, sell-side analysts forecast that DocGo will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael J. Burdiek purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $3.61 per share, for a total transaction of $36,100.00. Following the purchase, the director now directly owns 571,595 shares in the company, valued at approximately $2,063,457.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DCGO. Deerfield Management Company L.P. Series C lifted its holdings in DocGo by 55.7% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock worth $25,392,000 after purchasing an additional 1,705,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of DocGo by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,672,582 shares of the company’s stock worth $24,905,000 after buying an additional 55,246 shares in the last quarter. WCM Investment Management LLC lifted its stake in DocGo by 1.7% in the 1st quarter. WCM Investment Management LLC now owns 2,627,032 shares of the company’s stock worth $10,613,000 after purchasing an additional 44,359 shares in the last quarter. S Squared Technology LLC lifted its stake in DocGo by 36.7% in the 4th quarter. S Squared Technology LLC now owns 1,024,438 shares of the company’s stock worth $5,727,000 after purchasing an additional 275,000 shares in the last quarter. Finally, P.A.W. Capital Corp lifted its stake in DocGo by 50.0% in the 4th quarter. P.A.W. Capital Corp now owns 900,000 shares of the company’s stock worth $5,031,000 after purchasing an additional 300,000 shares in the last quarter. Hedge funds and other 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.