Why DocGo Inc (NASDAQ: DCGO) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 0.99 million shares of the DocGo Inc (NASDAQ:DCGO) were traded, and its beta was 0.96. Most recently the company’s share price was $3.07, and it changed around -$0.03 or -0.97% from the last close, which brings the market valuation of the company to $311.82M. DCGO currently trades at a discount to its 52-week high of $10.82, offering almost -252.44% off that amount. The share price’s 52-week low was $2.75, which indicates that the current value has risen by an impressive 10.42% since then. We note from DocGo Inc’s average daily trading volume that its 10-day average is 0.67 million shares, with the 3-month average coming to 947.73K.

DocGo Inc (NASDAQ:DCGO) trade information

Instantly DCGO has showed a red trend with a performance of -0.97% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.77 on recent trading dayincreased the stock’s daily price by 18.57%. The company’s shares are currently down -45.08% year-to-date, but still down -16.35% over the last five days. On the other hand, DocGo Inc (NASDAQ:DCGO) is 4.07% up in the 30-day period. We can see from the shorts that 8.56 million shares have been sold at a short interest cover period of 7.58 day(s).

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The consensus price target as assigned by Wall Street analysts is $9.5, which translates to bulls needing to increase their stock price by 67.68% from its current value. Analyst projections state that DCGO is forecast to be at a low of $5 and a high of $11.

DocGo Inc (DCGO) estimates and forecasts

DocGo Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -6.40 percent over the past six months and at a 380.00% annual growth rate that is well above the industry average of 13.20%.

DocGo Inc earnings are expected to increase by 316.67% in 2024, but the outlook is positive 31.07% per year for the next five years.

DocGo Inc (NASDAQ:DCGO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 10.02% of DocGo Inc shares, and 53.31% of them are in the hands of institutional investors. The stock currently has a share float of 59.24%. DocGo Inc stock is held by 188.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-03-31, it held 5.9664% of the shares, which is about 6.21 million shares worth $25.08 million.

DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C), with 4.9055% or 5.1 million shares worth $20.62 million as of 2024-03-31, holds the second largest percentage of outstanding shares.