Analyst Ryan MacDonald of Needham reiterated a Buy rating on DocGo (DCGO – Research Report), reducing the price target to $3.00.
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Ryan MacDonald has given his Buy rating due to a combination of factors, despite the challenges faced by DocGo in the government vertical. The company has experienced delays in government-related projects due to policy changes, which have impacted their financial outlook for FY25. However, MacDonald sees these delays as temporary and believes that the company’s other business segments, such as payer and medical transportation, are showing promising growth.
Additionally, MacDonald points to DocGo’s strong balance sheet as a key factor that will enable the company to navigate through these temporary setbacks. This financial stability, along with the potential for recovery in the government sector, supports his confidence in the company’s long-term prospects, justifying the Buy rating.
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