Needham Reiterates Buy Rating on DocGo (DCGO)

Needham analyst Ryan MacDonald reiterated a Buy rating and $3.00 price target on DocGo (NASDAQ: DCGO).

The analyst commented: "We reiterate our Buy rating and $3 PT on DocGo (DCGO) following mixed 2Q results in which rev. and adj. EBITDA came in below consensus. The key topic of the 2Q call was the DCGO's announced intent to acquire Hicuity Health in a deal in which DCGO will issue 2% of its common stock to Hicuity's preferred shareholder while assuming $52mm of debt held by Perceptive Advisors. While the assumption of Hicuity's debt is a topic to monitor given the lack of profitability in DCGO's business, management feels confident in the potential synergies of the deal, which should help to deepen relationships in the health system market. Ahead of the close of the deal, DCGO remains on track to exit FY26 with positive adj. EBITDA in the core business. Given this dynamic, we believe the risk/reward remains attractive for DCGO shares at current levels."

For an analyst ratings summary and ratings history on DocGo click here. For more ratings news on DocGo click here.

Shares of DocGo closed at $0.71 yesterday.

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