Why This Teladoc Health Analyst Expects 25%-30% Revenue Growth

Teladoc Health Inc (NYSE: TDOC) is a market leader in digital services, and the breadth of its services is unmatched, according to Guggenheim.

The Teladoc Health Analyst: Sandy Draper initiated coverage of Teladoc Health with a Buy rating and $96 price target.

The Teladoc Health Takeaways: The pandemic created more awareness and utilization, while also triggering a secular shift to digital interactions, Draper said in the initiation note.

“Over the last 12 months, the stock has been under pressure over concerns of a post-COVID slowdown in utilization and slower expected future membership growth,” the analyst wrote.

“We believe that growth in revenue per customer will offset slowing membership growth, and TDOC will be able to deliver 25%-30% revenue growth through 2024 and 20+% growth longer term,” he added.

TDOC Price Action: Shares of Teladoc Health were down 1.44% at $66.62 midday Thursday, according to Benzinga Pro.