Needham & Company LLC Reaffirms Buy Rating for DocGo (NASDAQ:DCGO)

DocGo (NASDAQ:DCGO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock. Needham & Company LLC's target price would indicate a potential upside of 67.36% from the stock's current price.

A number of other analysts also recently commented on DCGO. Deutsche Bank Aktiengesellschaft downgraded DocGo from a "buy" rating to a "hold" rating and decreased their price target for the company from $5.00 to $2.85 in a research report on Friday, February 28th. Stifel Nicolaus reduced their price objective on shares of DocGo from $6.50 to $5.50 and set a "buy" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.89.

DocGo Stock Down 4.4 %

DCGO traded down $0.11 during trading on Tuesday, reaching $2.39. 1,063,222 shares of the stock traded hands, compared to its average volume of 751,286. The stock's 50-day moving average is $3.53 and its 200 day moving average is $3.83. DocGo has a 12 month low of $2.32 and a 12 month high of $5.68. The stock has a market capitalization of $243.74 million, a PE ratio of 8.54, a P/E/G ratio of 14.16 and a beta of 1.12.

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Hedge Funds Weigh In On DocGo

Several institutional investors have recently bought and sold shares of DCGO. JPMorgan Chase & Co. raised its stake in shares of DocGo by 151.1% in the third quarter. JPMorgan Chase & Co. now owns 109,855 shares of the company's stock worth $365,000 after purchasing an additional 66,097 shares during the last quarter. Matrix Asset Advisors Inc. NY purchased a new stake in shares of DocGo in the fourth quarter valued at approximately $424,000. Rhumbline Advisers increased its position in DocGo by 4.5% during the fourth quarter. Rhumbline Advisers now owns 142,762 shares of the company's stock worth $605,000 after purchasing an additional 6,204 shares during the last quarter. WCM Investment Management LLC increased its stake in DocGo by 64.2% during the fourth quarter. WCM Investment Management LLC now owns 4,314,071 shares of the company's stock worth $18,637,000 after acquiring an additional 1,687,100 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of DocGo by 37.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,331,928 shares of the company's stock worth $5,647,000 after acquiring an additional 363,391 shares during the last quarter. 56.44% of the stock is owned by hedge funds and other 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.