Is DocGo, Inc. overvalued or undervalued?

As of 8 May 2025, the valuation grade for DocGo, Inc. has moved from fair to risky, indicating a deteriorating outlook. The company appears to be overvalued based on its current financial metrics, particularly given its Price to Book Value of 0.49 and an EV to EBITDA ratio of 7.86, which suggests that the market is pricing the company at a premium relative to its earnings potential. Additionally, the EV to Sales ratio stands at 0.22, further reinforcing the perception of overvaluation in the context of its financial performance.
In comparison to its peers, DocGo, Inc. has a significantly lower EV to EBITDA ratio than Fulgent Genetics, Inc. at -8.0743 and Enhabit, Inc. at 10.0951, highlighting its relative underperformance. The company's recent stock performance has been poor, with a year-to-date return of -63.44% compared to a positive 12.22% return for the S&P 500, which underscores the challenges it faces in the current market environment.