DocGo price target lowered to $5.50 from $6.50 at Stifel

Stifel analyst David Grossman lowered the firm’s price target on DocGo (DCGO) to $5.50 from $6.50 and keeps a Buy rating on the shares. Q4 results were below guidance and consensus due to a more dramatic deceleration in asylee-related revenue post the November election as well as higher expenses, the analyst tells investors. The stock traded down about 20% to $3.15 in after-hours, reflecting the miss and lack of visibility, but the firm notes that its sum-of-the-parts analysis supports a stock price closer to $4.