Teladoc (TDOC) PT Lowered to $8 at Jefferies

Jefferies analyst Glen Santangelo lowered the price target on Teladoc (NYSE: TDOC) to $8.00 (from $10.00) while maintaining a Hold rating.

The analyst comments "After some signs of improvement in 2H24, BetterHelp data trends deteriorated again in 1Q, declining ~20% y/y. Management has previously said that revenue will improve throughout F25. However, with a challenging macro and 1Q data declining ~20% vs midpt of 1Q guide calling for ~11.25%, we believe expectations may need to moderate further. Given limited visibility into the growth strategy going forward, we are reiterating our Hold rating."

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