DocGo (NASDAQ:DCGO) Posts Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• DocGo reported a quarterly loss of $0.16 per share, missing analyst expectations by $0.06, while revenue of $73.42 million also fell short of the $75.35 million consensus estimate.
• Despite the earnings miss, DocGo shares rose 6.4% to $0.71, with trading volume exceeding the stock’s average daily volume.
• Analyst sentiment remains mixed, resulting in an overall “Hold” rating and an average price target of $2.38; institutional investors own 56.44% of the company.

DocGo (NASDAQ:DCGO - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.06), FiscalAI reports. DocGo had a negative net margin of 62.23% and a negative return on equity of 44.09%. The firm had revenue of $73.42 million during the quarter, compared to analyst estimates of $75.35 million.

DocGo Stock Up 6.4%

Shares of DocGo stock traded up $0.04 on Monday, hitting $0.71. The company's stock had a trading volume of 1,307,876 shares, compared to its average volume of 865,181. DocGo has a 52-week low of $0.45 and a 52-week high of $1.73. The firm has a fifty day moving average price of $0.60 and a 200-day moving average price of $0.64. The company has a market capitalization of $70.12 million, a P/E ratio of -0.37 and a beta of 0.99.

Analyst Ratings Changes

DCGO has been the topic of a number of analyst reports. Wall Street Zen upgraded DocGo from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (e+)" rating on shares of DocGo in a report on Thursday, June 18th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of DocGo in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.38.

Institutional Trading of DocGo

Several large investors have recently modified their holdings of the business. Millennium Management LLC lifted its stake in shares of DocGo by 878.6% during the third quarter. Millennium Management LLC now owns 766,210 shares of the company's stock valued at $1,042,000 after buying an additional 687,911 shares during the period. Goldman Sachs Group Inc. grew its stake in DocGo by 205.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 805,427 shares of the company's stock worth $707,000 after acquiring an additional 541,670 shares during the period. 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 last quarter. JPMorgan Chase & Co. raised its holdings in DocGo by 92.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,613 shares of the company's stock valued at $758,000 after acquiring an additional 267,259 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of DocGo by 81.2% during the 4th quarter. Renaissance Technologies LLC now owns 565,535 shares of the company's stock worth $496,000 after purchasing an additional 253,400 shares during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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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