DocGo downgraded to Hold at Canaccord after ‘disappointing’ Q1

Canaccord downgraded DocGo (DCGO) to Hold from Buy with a price target of $1.45, down from $5. While the firm “fully acknowledge that we are late in coming off our Buy rating on shares of DocGo,” Canaccord believes it is appropriate to lower its recommendation following a “disappointing” Q1 report and a significant downward revision to 2025 guidance. The “damage is done as it relates to the stock price,” adds the firm, which suspects that shares will be range bound for an extended period of time until more clarity and transparency in the business is gained.