DocGo price target lowered to $4 from $6 at Northland

Northland lowered the firm’s price target on DocGo (DCGO) to $4 from $6 and keeps an Outperform rating on the shares. The firm is lowering its FY25 revenue forecast to $311M from $411M and establishing a FY26 revenue forecast at $304M after DocGo announced “a dramatic change,” eliminating their government population health business from FY25 forecasts. Federal funding uncertainty cascading to state and local customers has made forecasting unclear, leading management to make the change, the analyst noted.