Teladoc Health (NYSE: TDOC) slid in pre-market trading on Wednesday after the whole-person virtual care company’s guidance left investors disappointed. In Q4, the company has projected revenues in the range of $658 million to $683 million while net loss is likely to be between $0.33 and $0.23 per share. For reference, analysts had forecast a Q4 loss of $0.18 per share and revenues of $687 million.
In FY23, Teladoc has forecast revenues between $2.6 billion and $2.63 billion while net loss is likely to range from $1.5 to $1.4 per share.
The company reported third quarter results for the Fiscal Year 2023 where its losses narrowed in Q3 to $0.35 per share as compared to a loss of $0.45 per share in the same period last year while analysts were expecting a loss of $0.37 per share.
The company’s revenues increased 8% year-over-year to $660.2 million as compared to Street estimates of $664.1 million.
What is the Forecast for TDOC Stock?
Analysts are sidelined about TDOC stock with a Hold consensus rating based on three Buys and nine Holds. The average TDOC price target of $26 implies an upside potential of 43.5% at current levels.
