BTIG Research Cuts DocGo (NASDAQ:DCGO) Price Target to $7.00

DocGo (NASDAQ:DCGO) had its price objective dropped by stock analysts at BTIG Research from $11.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 127.27% from the stock’s current price.

DCGO has been the subject of several other reports. Needham & Company LLC decreased their price objective on shares of DocGo from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Canaccord Genuity Group decreased their price target on DocGo from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Stifel Nicolaus lowered their price target on DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Cantor Fitzgerald reduced their price objective on shares of DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, DocGo has a consensus rating of “Buy” and an average price target of $7.75.

DocGo Trading Down 12.0 %

DocGo stock traded down $0.42 during midday trading on Thursday, reaching $3.08. 1,983,636 shares of the stock traded hands, compared to its average volume of 1,452,829. 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. The company has a 50-day simple moving average of $3.70 and a two-hundred day simple moving average of $4.42. DocGo has a 12-month low of $2.78 and a 12-month high of $10.82.

DocGo (NASDAQ:DCGO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $199.25 million during the quarter, compared to analysts’ expectations of $195.48 million. DocGo had a net margin of 1.10% and a return on equity of 2.01%. Equities research analysts anticipate that DocGo will post 0.31 earnings per share for the current year.

Insider Activity at DocGo

In other news, Director Michael J. Burdiek bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $3.61 per share, with a total value of $36,100.00. Following the completion of the acquisition, the director now directly owns 571,595 shares in the company, valued at $2,063,457.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.78% of the stock is currently owned by insiders.

Institutional Trading of DocGo

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new stake in DocGo during the third quarter worth $802,000. Brown Advisory Inc. grew its position in DocGo by 4.6% during the third quarter. Brown Advisory Inc. now owns 432,951 shares of the company’s stock valued at $2,308,000 after acquiring an additional 18,908 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DocGo by 42.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,020 shares of the company’s stock worth $128,000 after purchasing an additional 7,166 shares in the last quarter. Summit Creek Advisors LLC raised its stake in shares of DocGo by 11.0% in the 3rd quarter. Summit Creek Advisors LLC now owns 748,038 shares of the company’s stock valued at $3,987,000 after acquiring an additional 73,981 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of DocGo by 25.2% during the 3rd quarter. Principal Financial Group Inc. now owns 25,591 shares of the company’s stock valued at $136,000 after buying an additional 5,154 shares during the period. 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.