DocGo, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ryan MacDonald from Needham reiterated a Buy rating on the stock and has a $3.00 price target.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Ryan MacDonald has given his Buy rating due to a combination of factors including DocGo’s solid performance in the recent quarter and its strategic shift away from relying on migrant-related revenues. Although the company’s initial guidance for FY26 was slightly below expectations, it is based on a conservative approach that does not factor in potential new business wins. This change in strategy suggests a more cautious outlook, yet it opens the door for potential upside as the company could exceed expectations if it secures additional contracts. Furthermore, there are promising opportunities for growth in both the medical transport and mobile health sectors, particularly within the payor business. This potential for revenue outperformance, coupled with high incremental margins, supports the expectation of a positive financial trajectory, making the stock an attractive buy at current levels.
In another report released on November 7, Stifel Nicolaus also maintained a Buy rating on the stock with a $1.11 price target.