BofA lowered the firm’s price target on Teladoc (TDOC) to $7 from $8 and keeps a Neutral rating on the shares. In April, global BetterHelp MAUs declined 6.1% year-over-year, further decelerating from low single-digit declines in the prior month, according to the analyst, who cites lower peer multiples for the firm’s lowered price target The firm remains cautious on the near-term outlook, but could see investments for future growth driving greater patient engagement over time, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TDOC:
- Teladoc’s Hold Rating Amid Declining User Base and Strategic Investments
- Teladoc price target lowered to $9 from $10 at Truist
- Teladoc Approves Key Proposals at Annual Meeting
- Hinge Health Stock (HNGE) Gains 17% in Market Debut on NYSE
- Hinge Health (HNGE) Prices IPO at $32 a Share Amid Strong Demand from Investors
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue