Needham & Company LLC Reiterates “Buy” Rating for DocGo (NASDAQ:DCGO)

DocGo (NASDAQ:DCGO)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $7.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 67.87% from the stock’s previous close.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of DocGo in a research note on Friday, September 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.10.

DocGo Price Performance

Shares of NASDAQ:DCGO opened at $4.17 on Thursday. The company’s fifty day moving average price is $4.23 and its 200-day moving average price is $3.69. The firm has a market capitalization of $425.55 million, a price-to-earnings ratio of 14.89, a PEG ratio of 11.49 and a beta of 0.97. DocGo has a one year low of $2.75 and a one year high of $4.86.

Insiders Place Their Bets

In related news, General Counsel Ely D. Tendler sold 23,088 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.44, for a total transaction of $102,510.72. Following the transaction, the general counsel now owns 175,645 shares of the company’s stock, valued at approximately $779,863.80. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of DocGo

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in shares of DocGo by 12.9% in the fourth quarter. SG Americas Securities LLC now owns 43,052 shares of the company’s stock worth $183,000 after buying an additional 4,905 shares during the period. Marathon Capital Management grew its position in DocGo by 2.3% during the 2nd quarter. Marathon Capital Management now owns 277,100 shares of the company’s stock worth $856,000 after acquiring an additional 6,285 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in DocGo by 31.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,401 shares of the company’s stock worth $125,000 after purchasing an additional 9,696 shares during the period. Centiva Capital LP purchased a new position in DocGo in the 3rd quarter worth approximately $43,000. Finally, Victory Capital Management Inc. lifted its position in DocGo by 124.0% in the second quarter. Victory Capital Management Inc. now owns 25,635 shares of the company’s stock valued at $79,000 after purchasing an additional 14,191 shares during the last quarter. 56.44% of the stock is owned by institutional investors.

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.