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Teladoc (TDOC) Increases Despite Market Slip: Here's What You Need to Know

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Teladoc (TDOC - Free Report) closed at $13.14 in the latest trading session, marking a +0.08% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.58%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.15%.

Heading into today, shares of the telehealth services provider had lost 12.64% over the past month, lagging the Medical sector's loss of 6.07% and the S&P 500's loss of 1.09% in that time.

The investment community will be paying close attention to the earnings performance of Teladoc in its upcoming release. The company is slated to reveal its earnings on April 25, 2024. In that report, analysts expect Teladoc to post earnings of -$0.47 per share. This would mark a year-over-year decline of 27.03%. In the meantime, our current consensus estimate forecasts the revenue to be $636.98 million, indicating a 1.23% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.07 per share and revenue of $2.66 billion, which would represent changes of +20.15% and +2.23%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Teladoc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.47% upward. Currently, Teladoc is carrying a Zacks Rank of #3 (Hold).

The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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