Cantor Fitzgerald Reiterates Overweight Rating for DocGo (NASDAQ:DCGO)

DocGo (NASDAQ:DCGO)‘s stock had its “overweight” rating reaffirmed by equities researchers 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 would suggest a potential upside of 43.68% from the company’s current price.

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

DocGo Stock Down 3.3 %

DCGO opened at $3.48 on Friday. DocGo has a 52-week low of $2.75 and a 52-week high of $6.90. The company has a market cap of $353.45 million, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 3.02 and a beta of 0.92. The firm’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.41.

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

Institutional Investors Weigh In On DocGo

A number of large investors have recently modified their holdings of DCGO. Point72 Asset Management L.P. lifted its holdings in shares of DocGo by 1,655.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 116,844 shares of the company’s stock worth $361,000 after purchasing an additional 110,189 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 acquiring an additional 9,696 shares during the last quarter. Marathon Capital Management boosted its position in shares of DocGo by 2.3% in the second quarter. Marathon Capital Management now owns 277,100 shares of the company’s stock worth $856,000 after buying an additional 6,285 shares during the period. Deerfield Management Company L.P. Series C boosted its position in DocGo by 41.0% during the second 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 during the last quarter. Finally, AQR Capital Management LLC boosted its position in DocGo by 58.5% during the second quarter. AQR Capital Management LLC now owns 344,963 shares of the company’s stock valued at $1,066,000 after purchasing an additional 127,320 shares during the last quarter. Institutional investors and hedge funds 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.