Needham & Company LLC Has Lowered Expectations for DocGo (NASDAQ:DCGO) Stock Price

DocGo (NASDAQ:DCGO) had its target price dropped by investment analysts at Needham & Company LLC to $1.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s target price would suggest a potential upside of 297.14% from the company’s previous close.

Several other research analysts have also commented on DCGO. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.00 price objective on shares of DocGo in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of DocGo in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DocGo currently has a consensus rating of “Hold” and an average price target of $1.50.

DocGo Price Performance

NASDAQ:DCGO opened at $0.25 on Tuesday. The firm has a market capitalization of $24.91 million, a price-to-earnings ratio of -0.13 and a beta of 1.03. The business has a 50 day simple moving average of $0.33 and a 200-day simple moving average of $0.56. DocGo has a 1 year low of $0.21 and a 1 year high of $1.17.

DocGo (NASDAQ:DCGO) last released its earnings results on Monday, November 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). DocGo had a negative net margin of 65.29% and a negative return on equity of 40.42%. The company had revenue of $73.43 million for the quarter, compared to the consensus estimate of $77.24 million. As a group, analysts expect that DocGo will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of DocGo

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in shares of DocGo by 167.1% in the first quarter. Renaissance Technologies LLC now owns 1,510,361 shares of the company’s stock valued at $950,000 after buying an additional 944,826 shares in the last quarter. S Squared Technology LLC purchased a new position in shares of DocGo during the 2nd quarter valued at approximately $1,060,725. BlackRock Inc. purchased a new position in shares of DocGo during the 2nd quarter valued at approximately $750,000. Empowered Funds LLC purchased a new position in shares of DocGo during the 2nd quarter valued at approximately $79,000. Finally, Marquette Asset Management LLC acquired a new stake in DocGo in the 2nd quarter valued at $175,000. 56.44% of the stock is owned by institutional investors and hedge funds.

About DocGo

DocGo Inc (NASDAQ:DCGO) is a healthcare services company that delivers medical care and related support outside traditional healthcare facilities. Its platform combines mobile medical services, technology and logistics to help healthcare providers, government agencies and other organizations improve access to care.

The company provides mobile health services that can include in-home and community-based clinical care, preventive services, diagnostic testing, vaccinations and care coordination.