Canaccord Genuity analyst Richard Close maintained a Buy rating on Teladoc yesterday and set a price target of $12.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Richard Close’s rating is based on Teladoc’s reaffirmation of its 2025 annual guidance and the preliminary third-quarter results that exceeded both the company’s and consensus estimates. The company reported revenue and adjusted EBITDA that were comfortably within the guidance ranges, indicating a stable financial performance. This stability is crucial as Teladoc is currently on a turnaround path.
Additionally, the transition in the CFO position is seen as a potential positive step for Teladoc. The new leadership could further stabilize the Integrated Care and BetterHelp divisions, positioning the company for future growth. The analyst views the CFO transition not as a setback but as an opportunity to bring in fresh perspectives, especially with the upcoming CEO transition, which could align well with Teladoc’s strategic goals.
Close covers the Healthcare sector, focusing on stocks such as Phreesia, Clover Health Investments, and Hinge Health, Inc. Class A. According to TipRanks, Close has an average return of 10.0% and a 48.13% success rate on recommended stocks.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $12.00 price target.