Victory Capital Management Inc. Grows Stock Position in DocGo Inc. (NASDAQ:DCGO)

Key Points

• Victory Capital Management Inc. increased its holdings in DocGo Inc. by 546.1%, acquiring an additional 314,838 shares and owning approximately 0.37% of the company, valued at $983,000.
• Multiple analysts have recently dropped their price targets for DocGo, with Needham & Company setting a new target price of $3.00, and Canaccord Genuity lowering theirs to $1.45.
• DocGo reported a loss of ($0.09) earnings per share for the last quarter, falling short of analyst expectations, while the company had a revenue of $96.03 million, below the estimated $104.25 million.

Victory Capital Management Inc. lifted its holdings in shares of DocGo Inc. (NASDAQ:DCGO - Free Report) by 546.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 372,487 shares of the company's stock after acquiring an additional 314,838 shares during the period. Victory Capital Management Inc. owned approximately 0.37% of DocGo worth $983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DCGO. Invesco Ltd. lifted its position in shares of DocGo by 1.3% in the fourth quarter. Invesco Ltd. now owns 177,953 shares of the company's stock worth $755,000 after purchasing an additional 2,312 shares in the last quarter. Summit Investment Advisors Inc. raised its position in DocGo by 38.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company's stock worth $45,000 after acquiring an additional 2,968 shares in the last quarter. MetLife Investment Management LLC raised its position in DocGo by 12.1% during the fourth quarter. MetLife Investment Management LLC now owns 60,245 shares of the company's stock worth $255,000 after acquiring an additional 6,517 shares in the last quarter. ProShare Advisors LLC raised its position in DocGo by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,641 shares of the company's stock worth $121,000 after acquiring an additional 9,425 shares in the last quarter. Finally, Graham Capital Management L.P. raised its position in DocGo by 15.6% during the fourth quarter. Graham Capital Management L.P. now owns 71,407 shares of the company's stock worth $303,000 after acquiring an additional 9,624 shares in the last quarter. 56.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BTIG Research downgraded shares of DocGo from a "buy" rating to a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group reiterated a "hold" rating and set a $1.45 price objective (down from $5.00) on shares of DocGo in a research note on Monday, May 12th. Finally, Needham & Company LLC reduced their price objective on shares of DocGo from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DocGo has a consensus rating of "Moderate Buy" and a consensus price target of $3.56.

DocGo Stock Up 2.6%

Shares of NASDAQ:DCGO traded up $0.04 on Monday, hitting $1.37. 156,587 shares of the company traded hands, compared to its average volume of 876,905. DocGo Inc. has a 52 week low of $1.23 and a 52 week high of $5.68. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $2.58. The company has a market cap of $139.20 million, a PE ratio of -68.25 and a beta of 0.96.

DocGo (NASDAQ:DCGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The firm had revenue of $96.03 million during the quarter, compared to analysts' expectations of $104.25 million. DocGo had a positive return on equity of 2.52% and a negative net margin of 0.12%. As a group, sell-side analysts anticipate that DocGo Inc. will post 0.25 earnings per share for the current year.

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.