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DA Davidson says Teladoc stock bought here after nearly 90%


The Teladoc Telehealth Trolley allows doctors to meet their patients remotely, on October 8, 2021.

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Teladoc Health According to DA Davidson, has established itself as an industry leader and is poised to see the stock rise.

The company on Thursday began reporting on the company with a $45 price target. That represents a nearly 20% gain from the stock’s closing Thursday at $37.99 per share.

Robert Simmons wrote in a note: “We believe Teladoc has established itself as a leader in telehealth, with the scale of its operations and completeness of services allowing it to deliver differentiated services. for customers.

Mr. Simmons writes: Teladoc has a “powerful flywheel” to continue delivering results with its complete suite of virtual health products, soon to be integrated into a cohesive product.

In addition, entering primary care has the potential to create a more lasting relationship with patients in the future, and the ability to use data to deliver better patient outcomes is unprecedented in the industry, the analyst said.

The company was a big beneficiary of the Covid pandemic, which led to a huge stock rally that has since dissipated. However, telehealth has steadily increased over the past year, causing the industry’s market share to continue to be captured by Teladoc.

“Much of the growth has come from non-specialist tools, such as Zoom and Teams; over time, we expect more to migrate to Teladoc and other similar vendors,” Simmons writes. “Several regulatory hurdles remain to wider adoption, but physician, patient and regulator acceptance and comfort with telehealth are all growing and we expect the level to Its penetration will increase over time.”

And, the stock’s roughly 88% drop from its all-time high of $308 in February 2021 may have gone too far, making today’s stock price an attractive entry point for investors. investors want to buy stocks.

“Some of these multiple contractions reflect the company’s natural slowdown in growth as COVID celebrates its founding, but we believe it represents an over-correction,” Simmons said. speak. “From here, with the potential for teen revenue growth and positive and growing FCF margins, we believe the current multiples and share price will increase significantly.”



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