DocGo (NASDAQ:DCGO) Stock Rating Reaffirmed by Cantor Fitzgerald

DocGo (NASDAQ:DCGO)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They currently have a $5.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 44.51% from the stock’s current price.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of DocGo in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $6.10.

DocGo Stock Performance

DCGO stock traded down $0.14 during midday trading on Friday, reaching $3.46. 628,269 shares of the company traded hands, compared to its average volume of 1,104,831. The firm has a market capitalization of $351.42 million, a price-to-earnings ratio of 17.30, a P/E/G ratio of 3.02 and a beta of 0.92. The business has a 50 day moving average of $3.48 and a 200-day moving average of $3.41. DocGo has a 52-week low of $2.75 and a 52-week high of $6.90.

DocGo (NASDAQ:DCGO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $164.95 million during the quarter, compared to the consensus estimate of $166.61 million. DocGo had a return on equity of 8.90% and a net margin of 3.97%. Research analysts anticipate that DocGo will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DCGO. Deerfield Management Company L.P. Series C raised its position in DocGo by 41.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 7,195,956 shares of the company’s stock valued at $22,236,000 after purchasing an additional 2,091,569 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of DocGo by 166.7% in the first quarter. Isthmus Partners LLC now owns 603,868 shares of the company’s stock valued at $2,440,000 after acquiring an additional 377,462 shares in the last quarter. Marshall Wace LLP lifted its stake in DocGo by 212.4% in the second quarter. Marshall Wace LLP now owns 505,514 shares of the company’s stock worth $1,562,000 after acquiring an additional 343,692 shares during the period. Pasadena Private Wealth LLC grew its holdings in DocGo by 363.6% during the 1st quarter. Pasadena Private Wealth LLC now owns 395,487 shares of the company’s stock worth $1,598,000 after acquiring an additional 310,180 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in DocGo by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 396,015 shares of the company’s stock valued at $1,224,000 after purchasing an additional 289,964 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.