Canaccord Genuity Group Trims DocGo (NASDAQ:DCGO) Target Price to $5.00

DocGo (NASDAQ:DCGO) had its target price cut by equities researchers at Canaccord Genuity Group from $9.00 to $5.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 62.34% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. BTIG Research decreased their price objective on shares of DocGo from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price objective on DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Cantor Fitzgerald dropped their price target on DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Needham & Company LLC lowered their target price on shares of DocGo from $10.00 to $7.00 and set a “buy” rating for the company in a report on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, DocGo presently has an average rating of “Buy” and a consensus target price of $7.75.

DocGo Price Performance

NASDAQ:DCGO traded down $0.42 during trading hours on Thursday, reaching $3.08. The company had a trading volume of 1,983,636 shares, compared to its average volume of 1,452,829. The business’s 50 day moving average price is $3.70 and its 200-day moving average price is $4.42. The firm has a market cap of $320.85 million, a PE 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.

DocGo (NASDAQ:DCGO) last posted its quarterly 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 net margin of 1.10% and a return on equity of 2.01%. The company had revenue of $199.25 million during the quarter, compared to analyst estimates of $195.48 million. On average, analysts expect that DocGo will post 0.31 earnings per share for the current fiscal year.

Insider Activity at DocGo

In other DocGo news, Director Michael J. Burdiek purchased 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 571,595 shares in the company, valued at $2,063,457.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C grew its position in DocGo by 55.7% during the third quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock worth $25,392,000 after buying an additional 1,705,000 shares in the last quarter. Vanguard Group Inc. lifted its position in DocGo by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,672,582 shares of the company’s stock valued at $24,905,000 after purchasing an additional 55,246 shares during the period. WCM Investment Management LLC lifted its stake in shares of DocGo by 1.7% in the 1st quarter. WCM Investment Management LLC now owns 2,627,032 shares of the company’s stock valued at $10,613,000 after purchasing an additional 44,359 shares during the period. S Squared Technology LLC raised its position in shares of DocGo by 36.7% in the 4th quarter. S Squared Technology LLC now owns 1,024,438 shares of the company’s stock valued at $5,727,000 after acquiring an additional 275,000 shares during the period. Finally, P.A.W. Capital Corp raised its stake in DocGo by 50.0% during the 4th quarter. P.A.W. Capital Corp now owns 900,000 shares of the company’s stock worth $5,031,000 after buying an additional 300,000 shares during the period. Institutional investors and hedge funds own 56.44% of the company’s stock.

DocGo Company Profile

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.