Teladoc (TDOC) - Get Report shares gained about a quarter of their market value after the company reported stronger-than expected revenue and investors considered that telemedicine usage could spike as the coronavirus spreads.

Teladoc's stock at last check was 23% higher at $144 a share on a day markets were roiled by mounting anxiety over the potential spread of the virus, known as covid-19, in the U.S. The stock has traded up as much as 27% on Thursday.

Teladoc reported fourth-quarter revenue of $156 million, up 27% from the year-earlier quarter. The latest figure beat the estimate of analysts surveyed by Zacks Investment Research by 1.8%.

The Purchase, N.Y., telemedicine company also reported a fourth-quarter loss of 26 cents a share, narrower than the 35-cent loss of a year earlier and better than the 33-cent loss predicted in the Zacks survey. 

The runup in Teladoc's stock also comes on the heels of a statement by an official at the U.S. Centers for Disease Control and Prevention that doctors and health-care workers may have to rely more on telemedicine if the coronavirus escalates in the U.S.

Analysts who cover the stock were mixed in their views on whether covid-19 will provide a material boost to Teladoc's bottom line.

Morgan Stanley analyst Lisa Gill sees the potential for "incremental upside" to Teladoc's balance sheet from the coronavirus' impact. She rates the stock overweight with a price target of $146, according to Bloomberg data.

But Piper Sandler's Sean Wieland deemed "unlikely" a "material, direct impact" on Teladoc's earnings from an outbreak, according to Bloomberg.

The Piper Sandler analyst affirmed an overweight rating on Teladoc, while boosting his price target to $142 a share from $87.