DocGo (NASDAQ:DCGO) Stock Rating Reaffirmed by Needham & Company LLC

DocGo (NASDAQ:DCGO)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $7.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 97.74% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BTIG Research reduced their price target on shares of DocGo from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Canaccord Genuity Group reduced their price target on shares of DocGo from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Cantor Fitzgerald reduced their target price on shares of DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, Stifel Nicolaus reduced their target price on shares of DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, DocGo currently has a consensus rating of “Buy” and an average target price of $6.10.

DocGo Price Performance

Shares of DocGo stock traded down $0.09 during trading on Thursday, hitting $3.54. 458,264 shares of the stock were exchanged, compared to its average volume of 1,232,836. DocGo has a 12-month low of $2.75 and a 12-month high of $10.82. The stock has a market cap of $359.54 million, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. The firm’s 50-day moving average price is $3.17 and its 200 day moving average price is $3.42.

DocGo (NASDAQ:DCGO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. DocGo had a net margin of 2.98% and a return on equity of 6.20%. The firm had revenue of $192.09 million during the quarter, compared to analysts’ expectations of $185.36 million. As a group, research analysts forecast that DocGo will post 0.24 earnings per share for the current year.

Insider Transactions at DocGo

In other news, CEO Lee Bienstock purchased 25,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $78,750.00. Following the completion of the purchase, the chief executive officer now directly owns 1,220,845 shares in the company, valued at approximately $3,845,661.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Lee Bienstock purchased 25,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $78,750.00. Following the completion of the purchase, the chief executive officer now directly owns 1,220,845 shares in the company, valued at approximately $3,845,661.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ely D. Tendler purchased 10,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $3.13 per share, for a total transaction of $31,300.00. Following the completion of the purchase, the general counsel now owns 162,933 shares of the company’s stock, valued at $509,980.29. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC grew its position in DocGo by 15.6% during the fourth quarter. WCM Investment Management LLC now owns 2,582,673 shares of the company’s stock worth $14,489,000 after buying an additional 347,984 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in DocGo during the first quarter worth about $672,000. Harbor Capital Advisors Inc. grew its position in DocGo by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 396,015 shares of the company’s stock worth $1,224,000 after buying an additional 289,964 shares during the period. Birchview Capital LP grew its position in DocGo by 15.4% during the fourth quarter. Birchview Capital LP now owns 150,000 shares of the company’s stock worth $838,000 after buying an additional 20,000 shares during the period. Finally, Vanguard Group Inc. grew its position in DocGo by 1.2% during 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 during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.