Given the situation of the coronavirus pandemic, Teladoc Health (NYSE: TDOC) has been on the rise. Each scenario creates certain winners and certain losers, accordingly. Despite the disastrous condition like the present COVID-19 pandemic has also created a number of winners, mainly in the sectors where ‘work from home’ is a strong concept. As a result, every sector with ‘at home’ and ‘online shopping’ practices have emerged as massive winners throughout the duration of the pandemic. Teladoc Health is no exception.
TDOC is a company providing ‘see the doctor at home’ services. Though the business has been booming for the past several months, the fairy-tale is facing a major crisis owing to the emergence of stiff competition.
Details Of TDOC Stock
The recent strike to the fairy-tale of Teladoc was when Stephens dropped and the rating of TDOC declined to ‘equal weight’ from ‘overweight’. Despite the drawback, Teladoc will be attending to the patients and witness an increased number of visits. Although there are a teeming number of competitors in this field that are coming into action and growing by the minute.
The exponential growth of Teladoc indicates that both patients and doctors like the idea of having an appointment inside the home of the concerned patient. As a result, several companies are eager to enter the market. Increasing competition will lead to a reduction in existing rates and prices and enhanced services.
TDOC has a ‘buy’ rating for the past 3 months with consensus objective price standing at a massive $229.66 and rising perpetually. 6 months back, it was seen to be $161.17.
With abundant patients and doctors, competitors are likely to dive in. Although. Teladoc remains a profitable venture in the stock market.