DocGo’s (DCGO) Buy Rating Reiterated at Needham & Company LLC

DocGo (NASDAQ:DCGO)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $3.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 322.48% from the stock’s previous close.

A number of other analysts have also commented on the company. Wall Street Zen raised DocGo from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DocGo in a research report on Thursday, June 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of DocGo in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DocGo has an average rating of “Hold” and a consensus price target of $2.38.

DocGo Stock Performance

Shares of NASDAQ DCGO opened at $0.71 on Tuesday. DocGo has a fifty-two week low of $0.45 and a fifty-two week high of $1.73. The stock has a market cap of $70.12 million, a price-to-earnings ratio of -0.37 and a beta of 0.99. The firm’s 50-day simple moving average is $0.60 and its 200 day simple moving average is $0.64.

Institutional Trading of DocGo

A number of institutional investors and hedge funds have recently modified their holdings of DCGO. AQR Capital Management LLC lifted its holdings in DocGo by 219.1% during the first quarter. AQR Capital Management LLC now owns 476,645 shares of the company’s stock worth $1,258,000 after acquiring an additional 327,269 shares during the period. Jane Street Group LLC increased its position in shares of DocGo by 18.8% during the 1st quarter. Jane Street Group LLC now owns 85,442 shares of the company’s stock valued at $226,000 after purchasing an additional 13,505 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of DocGo during the 1st quarter valued at $338,000. Strs Ohio bought a new stake in shares of DocGo during the 1st quarter worth $76,000. Finally, JPMorgan Chase & Co. grew its position in DocGo by 16.8% during the second quarter. JPMorgan Chase & Co. now owns 290,354 shares of the company’s stock valued at $456,000 after buying an additional 41,679 shares during the period. 56.44% of the stock is owned by hedge funds and other institutional investors.

About DocGo

DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions.

In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging.