Northland Capmk Comments on DocGo Inc.’s FY2024 Earnings (NASDAQ:DCGO)

DocGo Inc. (NASDAQ:DCGO) – Equities research analysts at Northland Capmk cut their FY2024 earnings per share (EPS) estimates for DocGo in a report released on Tuesday, April 9th. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings of $0.27 per share for the year, down from their prior forecast of $0.29. The consensus estimate for DocGo’s current full-year earnings is $0.36 per share.

DocGo (NASDAQ:DCGO) last posted 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 net margin of 1.10% and a return on equity of 2.01%. The firm had revenue of $199.25 million during the quarter, compared to analyst estimates of $195.48 million.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald decreased their target price on DocGo from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. BTIG Research cut their target price on DocGo from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price target on DocGo from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group dropped their price target on DocGo from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Needham & Company LLC dropped their price target on DocGo from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.00.

DocGo Trading Down 13.0 %

DocGo stock opened at $3.35 on Thursday. DocGo has a 12 month low of $2.78 and a 12 month high of $10.82. The stock’s 50 day moving average is $3.74 and its 200-day moving average is $4.72. The company has a market capitalization of $348.97 million, a price-to-earnings ratio of 47.86, a PEG ratio of 0.37 and a beta of 0.91.

Insiders Place Their Bets

In other DocGo news, Director Michael J. Burdiek acquired 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $3.61 per share, for a total transaction of $36,100.00. Following the completion of the acquisition, the director now owns 571,595 shares in the company, valued at approximately $2,063,457.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 13.78% of the company’s stock.

Institutional Trading of DocGo

Several institutional investors have recently made changes to their positions in DCGO. BlackRock Inc. grew its position in DocGo by 17.7% during the first quarter. BlackRock Inc. now owns 1,156,560 shares of the company’s stock valued at $10,699,000 after buying an additional 174,087 shares during the period. Vanguard Group Inc. grew its position in DocGo by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,049,027 shares of the company’s stock valued at $9,704,000 after buying an additional 14,704 shares during the period. Ergoteles LLC bought a new position in DocGo during the first quarter valued at about $333,000. Lazard Asset Management LLC grew its position in DocGo by 99.3% during the first quarter. Lazard Asset Management LLC now owns 10,799 shares of the company’s stock valued at $99,000 after buying an additional 5,381 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in DocGo by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 380,127 shares of the company’s stock valued at $3,517,000 after buying an additional 9,397 shares during the period. 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.