Teladoc (TDOC) Gains As Market Dips: What You Should Know

Teladoc (TDOC) ended the recent trading session at $7.57, demonstrating a +1.47% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw a decrease of 1.15%. The telehealth services provider's stock has climbed by 17.48% in the past month, exceeding the Medical sector's gain of 4.28% and the S&P 500's gain of 2.14%.Market participants will be closely following the financial results of Teladoc in its upcoming release. The company is expected to report EPS of -$0.24, down 26.32% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $614.69 million, indicating a 2.72% downward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.92 per share and a revenue of $2.51 billion, representing changes of +19.3% and -0.92%, respectively, from the prior year. Investors should also take note of any recent adjustments to analyst estimates for Teladoc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.97% higher within the past month. Teladoc currently has a Zacks Rank of #3 (Hold). The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 109, placing it within the top 45% of over 250 industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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 Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks