Stifel Nicolaus Lowers DocGo (NASDAQ:DCGO) Price Target to $5.50

DocGo (NASDAQ:DCGO - Get Free Report) had its price target reduced by analysts at Stifel Nicolaus from $6.50 to $5.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 85.81% from the stock's current price.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of DocGo from a "buy" rating to a "hold" rating and lowered their target price for the company from $5.00 to $2.85 in a report on Friday. Needham & Company LLC reduced their price objective on DocGo from $7.00 to $4.00 and set a "buy" rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, DocGo has an average rating of "Moderate Buy" and an average target price of $4.89.

DocGo Stock Performance

DocGo stock traded down $0.03 during midday trading on Friday, hitting $2.96. 1,875,036 shares of the company's stock were exchanged, compared to its average volume of 757,345. The firm's 50 day simple moving average is $4.56 and its 200 day simple moving average is $4.02. DocGo has a 12-month low of $2.75 and a 12-month high of $5.68. The stock has a market cap of $302.07 million, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 14.16 and a beta of 1.00.

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Insider Activity at DocGo

In other news, General Counsel Ely D. Tendler sold 23,088 shares of the stock in a transaction dated 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 directly owns 175,645 shares in the company, valued at $779,863.80. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On DocGo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. WCM Investment Management LLC grew its stake in shares of DocGo by 64.2% during the 4th quarter. WCM Investment Management LLC now owns 4,314,071 shares of the company's stock valued at $18,637,000 after buying an additional 1,687,100 shares during the period. Harbor Capital Advisors Inc. grew its position in DocGo by 144.6% during the third quarter. Harbor Capital Advisors Inc. now owns 968,537 shares of the company's stock valued at $3,216,000 after acquiring an additional 572,522 shares during the period. American Century Companies Inc. increased its stake in DocGo by 490.3% during the fourth quarter. American Century Companies Inc. now owns 452,254 shares of the company's stock worth $1,918,000 after acquiring an additional 375,637 shares during the last quarter. Northern Trust Corp raised its holdings in shares of DocGo by 24.9% in the 4th quarter. Northern Trust Corp now owns 1,606,139 shares of the company's stock worth $6,810,000 after purchasing an additional 320,133 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of DocGo by 583.4% in the 4th quarter. Renaissance Technologies LLC now owns 350,600 shares of the company's stock valued at $1,487,000 after purchasing an additional 299,300 shares in 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.