Cost Structure ChallengesDocGo has had a tough challenge to rightsize its cost structure after ramping up significantly to execute on its previous migrant contract business that ultimately did not prove to be a durable revenue stream.
Market ConfidenceThe price target of $1.50 is a 76% discount to the peer group that trades at 1x 2026E revenue, reflecting a lack of confidence in the ramp of the core payer business.
Profitability AdjustmentsSubstantial work remains for DocGo to drive revenue growth and adjust cost structures to achieve targeted profitability.