DocGo (NASDAQ:DCGO) Downgraded to “Hold” Rating by Deutsche Bank Aktiengesellschaft

DocGo (NASDAQ:DCGO) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $2.85 price target on the stock, down from their previous price target of $5.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential downside of 27.30% from the stock’s previous close.

Separately, Needham & Company LLC reduced their price objective on shares of DocGo from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, DocGo presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.06.

DocGo Trading Down 3.4 %

NASDAQ:DCGO opened at $3.92 on Friday. The company has a market cap of $400.04 million, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 14.16 and a beta of 1.00. DocGo has a twelve month low of $2.75 and a twelve month high of $5.68. The stock has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $4.02.

Insiders Place Their Bets

In related news, General Counsel Ely D. Tendler sold 23,088 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.44, for a total value of $102,510.72. Following the sale, the general counsel now owns 175,645 shares in the company, valued at $779,863.80. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On DocGo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DCGO. Summit Investment Advisors Inc. lifted its stake 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 valued at $45,000 after purchasing an additional 2,968 shares during the period. Centiva Capital LP purchased a new stake in shares of DocGo during the 3rd quarter worth about $43,000. Prudential Financial Inc. acquired a new stake in shares of DocGo during the 4th quarter valued at about $55,000. Royce & Associates LP acquired a new stake in shares of DocGo during the 4th quarter valued at about $64,000. Finally, Intech Investment Management LLC purchased a new position in shares of DocGo in the 3rd quarter valued at about $62,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.