Analyst Michael Cherny of Leerink Partners reiterated a Hold rating on Teladoc, retaining the price target of $7.50.
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Michael Cherny has given his Hold rating due to a combination of factors related to Teladoc’s current business positioning and market conditions. The company’s recent quarterly results were solid, particularly in the Integrated Care segment, which showed growth and contributed positively to the overall performance. However, the BetterHelp segment faced challenges due to macroeconomic pressures, resulting in higher churn rates.
Despite some progress in repositioning efforts, such as the launch of BetterHelp’s insurance offering, these initiatives are still in the early stages and will take time to show significant impact. The challenging macroeconomic environment further complicates the company’s path to growth, with few immediate catalysts for upside. As a result, Cherny maintains a cautious outlook, reiterating a Market Perform rating with a 12-month target price of $7.50.
In another report released yesterday, TD Cowen also maintained a Hold rating on the stock with a $8.00 price target.
TDOC’s price has also changed moderately for the past six months – from $10.350 to $7.530, which is a -27.25% drop .