BTU - Is TDOC Stock a Buy After Its Earnings Plunge? 3 Analysts Weigh In on Teladoc.
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Teladoc (NYSE:TDOC) stock isn’t doing so hot on Thursday following its most recent earnings report and some investors may be wondering if shares are worth buying on the dip. Before we get into that, let’s go over those earnings results.
Teladoc’s earnings report starts off with a massive loss per share of $41.58. That’s a major widening in comparison to the -$1.31 per share reported during the same time last year. It’s also well below Wall Street’s estimate of -52 cents per share.
The company’s revenue of $565.35 million also didn’t do TDOC stock any favors today. Even if it’s a 25% increase year-over-year from $453.68 million. That’s due to it missing analysts’ revenue estimate of $569.7 million for the quarter.
So what exactly is behind the negative earnings report from Teladoc? The company notes that it suffered a $6.6 billion goodwill impairment charge during the first quarter of the year.
Teladoc’s Q2 2022 is also on the weak side with earnings per share ranging from -72 cents to -60 cents and revenue of $580 million to $600 million. For comparison, Wall Street is looking for EPS of -47 cents on revenue of $615.26 million.
With those earnings in mind, here’s what analysts are saying about TDOC stock today!
Is TDOC Stock a Buy
- Credit Suisse hit TDOC stock with a downgrade to “neutral” from its previous “outperform” rating.
- Wells Fargo dropped the stock to an “equal weight” rating compared to its previous “overweight” rating.
- Berenberg Bank analyst Dev Weerasuriya bucks the downgrade trend with a maintained “buy” rating and $141 price target.
TDOC stock is down 48.1% as of Thursday morning.
Investors looking for more of the latest stock market news will want to stick around!
InvestorPlace offers up all of the most recent stock news with our daily coverage of the market. For Thursday, that includes Elon Musk joking about buying Coca-Cola (NYSE:KO), what’s hitting Peabody Energy (NYSE:BTU) stock, and Cathie Wood buying more TDOC shares. You can read all about these topics at the following links!
More Thursday Stock Market News
- Why Is Coca-Cola (KO) Stock in the Spotlight Today?
- Why Is Peabody Energy (BTU) Stock Down 20% Today?
- Cathie Wood Keeps Buying Teladoc (TDOC) Stock. Here’s Why.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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