What's Going On With Teladoc Health Stock After Earnings?

Teladoc Health, Inc. TDOC shares are trading lower Thursday after the company reported a second-quarter revenue miss and withdrew its full year financial outlook for its consolidated operations and BetterHealth segment.

The Details:

Teladoc shares marked a new 52-week low Thursday morning after the company missed estimates with second-quarter revenue of $642.4 million, down 2% year-over-year. 

Integrated Care segment revenue of $377.4 million was up 5% year-over-year in the quarter, though BetterHealth segment revenue fell 9% year-over-year to $265 million. 

Teladoc withdrew its full-year financial outlook for its consolidated operations and the BetterHealth segment, as well as its three-year outlook for consolidated operations. 

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"While we achieved solid performance in the Integrated Care segment, continued headwinds in the BetterHealth segment impacted overall results. We are focused on addressing the work ahead of us with urgency to unlock greater value across the company over time,” said Chuck Divita, CEO of Teladoc Health. 

Oppenheimer maintained Teladoc Health with an Outperform, but lowered the price target from $21 to $17 following the print. 

According to Benzinga Pro, the stock is down on heavy trading volume Thursday, and 26.8% of Teladoc shares are being sold short. 

Will TDOC Stock Go Up?

When trying to assess whether or not Teladoc Health will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $14.70 on Teladoc Health. The Street high target is currently at $17 and the Street low target is $10. Of all the analysts covering Teladoc Health, 2 have positive ratings, 3 have neutral ratings and no one has negative ratings.

In the last month, 3 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Teladoc Health have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Teladoc Health is 59.09% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Teladoc Health, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

TDOC Price Action: According to Benzinga Pro, Teladoc shares are down 7.95% at $8.68 at the time of publication Thursday.

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