Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Teladoc (TDOC) yesterday and set a price target of $70. The company’s shares closed yesterday at $68.99.
Halper observed:
“. We reiterate our Neutral rating on TDOC shares and lower our 12-month price target to $70 from $83. After the close on Wednesday, Feb. 27, TDOC reported 4Q18 results. Revenue and adjusted EBITDA were slightly above our estimate and FactSet consensus. TDOC provided its initial 2019 guidance, which was below our estimates and consensus. We continue to believe that TDOC is positioned to benefit from increasing virtual health adoption. However, the shares’ current valuation, relative to our revised price target, keeps us on the sidelines.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 19.4% and a 65.2% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teladoc with a $86.43 average price target.
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The company has a one-year high of $89.05 and a one-year low of $37.85. Currently, Teladoc has an average volume of 1.44M.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TDOC in relation to earlier this year.
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Teladoc Health, 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.
