Needham & Company LLC Lowers DocGo (NASDAQ:DCGO) Price Target to $4.00

DocGo (NASDAQ:DCGO) had its price objective reduced by investment analysts at Needham & Company LLC from $7.00 to $4.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 29.45% from the company’s current price.

DocGo Trading Down 21.2 %

DCGO opened at $3.09 on Friday. The business’s 50 day moving average is $4.58 and its 200-day moving average is $4.02. The stock has a market cap of $315.34 million, a PE ratio of 11.04, a price-to-earnings-growth ratio of 14.16 and a beta of 1.00. DocGo has a twelve month low of $2.75 and a twelve month high of $5.68.

Insider Buying and Selling

In related news, General Counsel Ely D. Tendler sold 23,088 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.44, for a total transaction of $102,510.72. Following the sale, the general counsel now owns 175,645 shares of the company’s stock, valued at $779,863.80. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocGo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new stake in DocGo during the fourth quarter worth approximately $123,000. Mackenzie Financial Corp bought a new stake in DocGo during the fourth quarter worth approximately $579,000. Squarepoint Ops LLC raised its holdings in DocGo by 65.5% during the fourth quarter. Squarepoint Ops LLC now owns 66,260 shares of the company’s stock worth $281,000 after purchasing an additional 26,221 shares in the last quarter. State of Wyoming raised its holdings in DocGo by 55.1% during the fourth quarter. State of Wyoming now owns 159,033 shares of the company’s stock worth $674,000 after purchasing an additional 56,500 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of DocGo by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 28,641 shares of the company’s stock valued at $121,000 after buying an additional 9,425 shares in the last quarter. Institutional investors own 56.44% of the company’s stock.

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.