DocGo (NASDAQ:DCGO) Cut to Strong Sell at Zacks Research

Key Points

• DocGo has been downgraded from a "hold" rating to a "strong sell" by Zacks Research, indicating a bearish outlook from analysts.
• Despite the downgrade, Canaccord Genuity Group raised their target price on DocGo to $1.60, maintaining a "hold" rating, while the company’s average target price is currently $3.24.
• DocGo reported a $0.11 loss per share for the last quarter, missing analyst expectations, but achieved revenue of $80.42 million, surpassing estimates.

DocGo (NASDAQ:DCGO - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on DCGO. Canaccord Genuity Group raised their target price on DocGo from $1.45 to $1.60 and gave the company a "hold" rating in a report on Thursday, August 21st. Weiss Ratings reissued a "sell (d)" rating on shares of DocGo in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $3.24.

DocGo Stock Performance

Shares of DCGO stock traded down $0.03 during mid-day trading on Tuesday, hitting $1.24. 74,682 shares of the stock traded hands, compared to its average volume of 786,873. DocGo has a twelve month low of $1.20 and a twelve month high of $5.68. The firm has a market cap of $120.79 million, a price-to-earnings ratio of -6.50 and a beta of 0.95. The company's 50-day simple moving average is $1.50 and its 200-day simple moving average is $1.72.

DocGo (NASDAQ:DCGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $80.42 million for the quarter, compared to analyst estimates of $77.58 million. DocGo had a negative net margin of 4.20% and a negative return on equity of 3.26%. DocGo has set its FY 2025 guidance at EPS. Analysts forecast that DocGo will post 0.25 earnings per share for the current year.

Institutional Trading of DocGo

A number of large investors have recently made changes to their positions in DCGO. Jefferies Financial Group Inc. boosted its stake in DocGo by 6,874.1% in the 1st quarter. Jefferies Financial Group Inc. now owns 2,029,456 shares of the company's stock worth $5,358,000 after purchasing an additional 2,000,356 shares during the period. P.A.W. Capital Corp raised its holdings in DocGo by 60.0% in the 2nd quarter. P.A.W. Capital Corp now owns 3,200,000 shares of the company's stock valued at $5,024,000 after acquiring an additional 1,200,000 shares during the period. S Squared Technology LLC raised its holdings in DocGo by 52.2% in the 2nd quarter. S Squared Technology LLC now owns 2,878,286 shares of the company's stock valued at $4,519,000 after acquiring an additional 987,310 shares during the period. American Century Companies Inc. raised its holdings in DocGo by 175.5% in the 1st quarter. American Century Companies Inc. now owns 1,245,894 shares of the company's stock valued at $3,289,000 after acquiring an additional 793,640 shares during the period. Finally, AQR Capital Management LLC raised its holdings in DocGo by 219.1% in the 1st quarter. AQR Capital Management LLC now owns 476,645 shares of the company's stock valued at $1,258,000 after acquiring an additional 327,269 shares during the period. Institutional investors own 56.44% of the company's stock.

DocGo Company Profile

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.

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