Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Teladoc Downgraded by Cowen on Risks to 22/23 Estimates

Stock Markets Aug 02, 2022 11:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Teladoc (TDOC) Downgraded by Cowen On Risks to 22/23 Estimates

By Sam Boughedda

Teladoc (NYSE:TDOC) shares were downgraded to Market Perform from Outperform by a Cowen analyst on Tuesday.

The analyst also lowered the firm's price target on the stock to $34 per share from $58. He stated in a research note that while they have long been supporters of the role of telehealth and believe Teladoc was well positioned to benefit from the transition to telehealth, it is taking "longer than expected, particularly as companies are grappling with a potentially faltering economy."

"The outsized contribution from BetterHelp (BH) over the past couple years has reversed as other macro issues (ad cost and consumer behavior) have been greater than expected. We believe mgmt's decision not to lower 2022 guidance post-2Q leaves estimates at risk for the year. Further, we are concerned that reaching 2022 adj. EBITDA guidance through lower 4Q ad spending creates a headwind for 2023 that we believe also puts 2023 estimates at risk," added the analyst.

The analyst explained that they believe Teladoc could be challenged in achieving its 2022 adj. EBITDA guidance as it seems to depend on improving consumer sentiment and spending and a significant drop in Q4 ad spending, which they believe will be in the $40-$50M range q/q.

"We are cautious on the view that consumer sentiment (a lagging indicator) will turn quickly enough to benefit 2022, and even assuming lower 4Q ad spend, we estimate 2022 adj. EBITDA of $236M below its $240-$265M range for 2022."

Teladoc shares declined 1.7% Tuesday.

Teladoc Downgraded by Cowen on Risks to 22/23 Estimates
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email