DocGo (NASDAQ:DCGO) Receives Buy Rating from Needham & Company LLC

Key Points

• Needham & Company reaffirmed its “Buy” rating on DocGo and set a $3.00 price target, implying 322.48% upside from the stock’s current price.
• Analyst sentiment is mixed: DocGo has an overall “Hold” rating and an average price target of $2.38, with three Buy, two Hold, and one Sell ratings.
• DocGo shares opened at $0.71, while institutional investors own 56.44% of the company; the stock has traded between $0.45 and $1.73 over the past year.

DocGo (NASDAQ:DCGO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. Needham & Company LLC's price target would indicate a potential upside of 322.48% from the stock's current price.

A number of other research firms have also recently issued reports on DCGO. Weiss Ratings restated a "sell (e+)" rating on shares of DocGo in a report on Thursday, June 18th. Cantor Fitzgerald reiterated an "overweight" rating on shares of DocGo in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of DocGo from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Three investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.38.

DocGo Stock Performance

Shares of DCGO stock opened at $0.71 on Tuesday. The company has a market cap of $70.12 million, a P/E ratio of -0.37 and a beta of 0.99. The stock has a 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $0.64. DocGo has a fifty-two week low of $0.45 and a fifty-two week high of $1.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC bought a new stake in shares of DocGo during the fourth quarter valued at approximately $29,000. Cerity Partners LLC bought a new position in shares of DocGo in the 2nd quarter worth $37,000. Public Employees Retirement System of Ohio bought a new position in shares of DocGo in the 4th quarter worth $40,000. Engineers Gate Manager LP bought a new position in shares of DocGo in the 2nd quarter worth $52,000. Finally, Diversify Advisory Services LLC acquired a new stake in DocGo in the 2nd quarter valued at $53,000. 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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