Oppenheimer Believes Teladoc (TDOC) Still Has Room to Grow


Oppenheimer analyst Mohan Naidu reiterated a Buy rating on Teladoc (NYSE: TDOC) today and set a price target of $59. The company’s shares opened today at $51.25, close to its 52-week high of $52.20.

Naidu wrote:

“Teladoc announced its acquisition of Advance Medical (for $352M, 4.75x revenue), expanding its international footprint and adding a roster of large noteworthy clients. Advance Medical provides expert opinion along with traditional telehealth services and has a significant presence in Latin America. The acquisition increases TDOC’s international revenue mix to 25% and accelerates its international expansion efforts. Additionally, the strong list of Advance clients is likely to provide new pathways to cross-sell solutions. While operational and numbers risk increases with the diverse offerings and customer base, we believe the strategy of a one-stop shop with a comprehensive telehealth platform is likely to provide TDOC an edge over the competition. Increasing our target to $59 (from $45). Reiterate Outperform rating.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 10.5% and a 56.7% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.

Teladoc has an analyst consensus of Moderate Buy, with a price target consensus of $46.67.

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Based on Teladoc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $23.86 million. In comparison, last year the company had a GAAP net loss of $15.65 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.

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Teladoc, Inc. engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure. The company was founded on June 13, 2002 by George Byron Brooks and is headquartered in Purchase, NY.

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