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Teladoc Receives Price Target Cuts After Wider-Than-Expected Loss

Evercore ISI analyst Elizabeth Anderson lowers her price target for Teladoc to $150 from $170 and keeps her in-line rating.
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Teladoc  (TDOC) - Get Teladoc Health, Inc. Report shares fell sharply Wednesday after the virtual healthcare company reported a wider-than-expected second-quarter loss and lower-than-expected guidance.

The results triggered negative reactions from some analysts.

The stock traded at $137.80, down 9%, in premarket trading Wednesday. It has slumped 45% in the six months through Tuesday.

Evercore ISI analyst Elizabeth Anderson lowered her price target to $150 from $170 and kept her in-line rating.

Questions have surfaced about how Teladoc will do next year in light of “a robust competitive environment, and despite the recent membership growth trajectory,” she wrote in a commentary.

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Stifel’s David Grossman slashed his price target to $165 from $195, keeping his hold rating. “Unanswered questions persist” for Teladoc, he said.

He expects high volatility within a narrow range for the stock until investors get a better feel for how the company will do in 2022-2023.

Not all analysts were negative. RBC’s Sean Dodge has an outperform rating and a price target of $260 on shares of Teladoc.

Teladoc’s future “remains bright across all growth levers,” despite slowing telehealth adoption as pandemic-driven growth eases, he said, according to Bloomberg.

Piper Sandler’s Sean Wieland has an overweight rating and a $291 price target. Teladoc represents “a transformation we want to own,” given its purchase of Livongo, which makes it the first entirely virtual health system, he said,