DocGo (DCGO) PT Raised to $1.60 at Canaccord Genuity

Canaccord Genuity analyst Richard Close raised the price target on DocGo (NASDAQ: DCGO) to $1.60 (from $1.45) while maintaining a Hold rating.

The analyst commented: "Overall, there was some progress in 2Q, but there remains substantial work to do to grow core revenue and rightsize the cost structure to return to adj-EBITDA profitability targeted for 2H'26. For now, we maintain our HOLD rating and "believe it when I see it" stance. Fortunately (and what we believe drove the stock higher post report), DocGo has collected a substantial portion of its receivables related to the NY migrant contract, paid off its credit facility after 2Q quarter end, and expects to have over $110 million cash & investments, providing it runway to once again reach profitability and to continue to be active in share repurchases with $11 million left on its current program."

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