DocGo (DCGO) Stock Forecast & Price Target

DocGo is viewed favorably because the Hicuity Health acquisition strengthens its “closed-loop care anywhere” strategy by combining hospital-facing virtual care with DocGo’s mobile health, transportation, and in-home services, creating a broader continuum of care. The deal also brings $65 million of TTM revenue and $4.5 million of adjusted EBITDA, while management highlighted about $4.3 million of annual run-rate savings from staffing, organizational, and facilities consolidation, supporting margin expansion. Although the added $52 million of debt requires disciplined execution, the company’s more than 260 hospital relationships, 4,700 monitoring beds, and ~160,000 patients per year across 30 states provide a large cross-sell base and a compelling path to deeper profitability.

DocGo is facing a weak fundamental setup because 2Q26 revenue of $73.4 million fell 8.7% year over year and adjusted EBITDA was $(4.2) million, while gross margin compressed to 30.5% and operating expenses rose to $40.3 million. Mobile Health, its core segment, declined 30.4% to $21.4 million, showing that the business is still losing the high-margin migrant revenue it once benefited from and that newer offerings remain too small to offset the decline. At the same time, management lowered FY26 adjusted EBITDA guidance to $(22) million to $(17) million and licensing delays could force more acquisitions, increasing costs and limiting free cash flow generation.