The stock of Teladoc Health, Inc. (NYSE:TDOC) is now priced at $237.07 and the shares are 18.82 points up or 8.62% higher compared to its previous closing price of $218.25. The stock had 3.752 million contracts set over the past session. TDOC shares’ daily volume is compared to its average trading volume at 2.688 million shares. However, it has a float of 73.66 million and although its performance was 7.82% over the week, it’s one to watch. Analysts have given the TDOC stock a yearly average price target of $188 per share. It means the stock’s downside potential is -20.7% with the TDOC share price recently placing at $210.95 to $239.44. However, some brokerage firms have priced the stock below the average, including one that has called $150.
The shorts are running away from the Teladoc Health, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the TDOC shares have declined. Short interest in the stock represents just 10.24% of its float, but the volume has dropped by 0.
In the last trading session, Teladoc Health, Inc. (NYSE:TDOC) raised by $17.19 over the week and gained $38.22 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $239.44. The stock recorded its established 52-week high on 07/30/20.
Since 08/28/19, the stock has traded to a low of $54.58 at 334.35%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.48. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Teladoc Health, Inc.’s two-week RSI is 67.04. This suggests that the stock is neutral at the moment and that TDOC shares’ price movement remains stable. The stochastic readings are equally revealing at 54.63% meaning the TDOC share price is currently in neutral territory.
The technical chart shows that the TDOC stock will likely settle at between $247.36 and $257.64 per share. However, if the stock dips below $218.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $200.66.
Currently, the stock is trading in the green of MACD, with a reading of 1.4. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned TDOC a rating of Buy in their intiating review released on July 14. Argus analysts see the stock as a Buy with a target price of $280 in a flash note released to investors on July 13 initiating covering the stock. Stephens analysts see the stock as Overweight when the analysts initiated the share price coverage on July 07, placing it at $250.
The average rating for the TDOC equity is 2.33 and is currently gathering a bullish momentum. Of 26 analysts tracking Teladoc Health, Inc. polled by Reuters, 13 rated TDOC as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Teladoc Health, Inc. (NYSE:TDOC) will decrease by about -99.88%, which will see them reach $223.41 million. The company’s full-year revenues are, however, expected to increase by about 54.99%, up from $553.31 million to $857.6 million. TDOC’s expected adjusted earnings should drop almost -7.14% to end up at -$0.26 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -18.12% to record -$1.13/share.