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

Key Points

• Cantor Fitzgerald reaffirmed its Overweight rating on DocGo, even as other analysts remain mixed on the stock.
• Recent analyst actions include price-target cuts from Canaccord Genuity and Stifel, while Needham reiterated a Buy rating; the stock currently has a consensus rating of Hold with a $2.38 target price.
• DocGo shares were up 2.6% on Monday to $0.59, near their 12-month low of $0.49, with a market cap of about $57.8 million.

DocGo (NASDAQ:DCGO - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Monday,Benzinga reports.

Several other research firms have also recently weighed in on DCGO. Canaccord Genuity Group dropped their price target on shares of DocGo from $1.50 to $1.00 and set a "hold" rating for the company in a research note on Wednesday, March 25th. Needham & Company LLC reissued a "buy" rating and set a $3.00 target price on shares of DocGo in a research note on Tuesday, March 17th. Finally, Stifel Nicolaus decreased their price target on DocGo from $4.00 to $2.50 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $2.38.

DocGo Trading Up 2.6%

DocGo stock opened at $0.59 on Monday. The company has a 50-day moving average price of $0.65 and a 200 day moving average price of $0.83. DocGo has a 12-month low of $0.49 and a 12-month high of $1.78. The stock has a market cap of $57.77 million, a P/E ratio of -0.31 and a beta of 1.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC acquired a new stake in DocGo during the 4th quarter worth approximately $29,000. Cerity Partners LLC acquired a new position in shares of DocGo in the second quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of DocGo during the fourth quarter worth $40,000. Engineers Gate Manager LP purchased a new stake in shares of DocGo during the second quarter worth $52,000. Finally, Royce & Associates LP acquired a new stake in shares of DocGo in the third quarter valued at $64,000. Hedge funds and other institutional investors own 56.44% of the company's stock.

DocGo Company Profile

DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions.

In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging.

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