Docgo Inc. Up 10.41% To $4.37 After Earnings Miss

Thursday, February 29, 2024 - Docgo Inc. (DCGO) reported downside earnings and upside revenues.

Wall Street earnings per share (EPS) projections for Docgo Inc. were at $0.10. The company missed those estimates with an EPS of $0.07. The earnings per share of $0.07 (which represents a -30% EPS surprise) led to the company's profits falling 30% compared to last year when the firm reported an EPS of $0.10. The decline in Docgo Inc.'s annual growth rate represents how the business isn't performing well amid current economic conditions.

Consensus estimates for Docgo Inc. revenue averaged out to $194.2 million, with the business managing to beat those expectations with reported fourth-quarter revenue of $199.2 million. The $5 million (3%) positive revenue surprise led to 83% growth year-over-year as the firm reported revenue of $108.8 million in its year-ago quarter. The lower earnings growth compared to revenue points to Docgo Inc. not being able to improve its profit margin.

The stock is up 10.41% to $4.37 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Docgo Inc. a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 43. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

DocGo Inc is a provider of last-mile mobile health services and integrated medical mobility solutions. DocGo is disrupting the traditional four-wall healthcare system by providing care at the scale of humanity. Its innovative technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace.