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TDOC · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Teladoc Health, Inc. (TDOC) stock moving?
TDOC closed at $8.94 on Nov 10, about 41% above its $6.32 close on Oct 22. The move started with Q3 results on Oct 28: the company beat on both lines and raised its 2026 GAAP EPS outlook. Shares jumped on Oct 29, closing at $8.73 on 20.1M shares, roughly six to eight times the normal daily volume of 2.5M to 4M seen in late October. The stock then set a post-earnings high close of $9.70 on Nov 4 and an intraday high of $9.79 on Nov 5. It fell to $8.77 on Nov 6 and has since held in the $8.4 to $9.0 range on lower volume, which points to some profit-taking after the rally. Analyst activity was heavy after earnings. Oppenheimer (Outperform, $10) and Deutsche Bank (Buy, $11) are the most positive, BofA set $11.50, and several Neutral or Hold ratings (JPMorgan $10, UBS $9, Barclays $9, Wells Fargo $8, TD Cowen $8, Stifel $6.5, Needham Hold) sit below or near the current price. Argus cut the stock to Sell on Nov 2. The nine price targets cited average about $9.2, close to the current price, so limited upside is priced in by the sell-side. An insider sale of 29,432 shares on Nov 6 and the minor Teledigm inducement awards and Empire Life program are not material to the outlook.
News behind the analysis
- Teladoc Stock Rallies After Double Beat; Lifts FY26 GAAP EPS OutlookShares rose after Teladoc beat expectations on both lines for Q3 and raised its 2026 GAAP EPS guidance.
- Deutsche Bank Adjusts Teladoc Health Price Target to $11 From $10Deutsche Bank raised its price target to $11 from $10 and kept its Buy rating after the Q3 report.
- BofA Securities Adjusts Teladoc Health Price TargetBofA Securities raised its price target to $11.50 from $10.50 following the quarterly results.
- Argus Downgrades Teladoc Health to SellArgus Research cut Teladoc Health from Hold to Sell, the most bearish rating among the recent updates.
- Oppenheimer Adjusts Teladoc Health Price Target to $10 From $7Oppenheimer raised its price target to $10 from $7 and maintained its Outperform rating.
- Barclays Maintains Teladoc Health at Equal-Weight and Raises Price TargetBarclays kept its Equal-Weight rating and raised its price target to $9 from $7.
- Wells Fargo Raises Teladoc Health Price Target to $8Wells Fargo kept its Equal-Weight rating and raised its price target to $8 from $6.
- TD Cowen Maintains Hold on Teladoc Health, Raises Price Target to $8TD Cowen kept its Hold rating and raised its price target to $8.
- Teladoc Health Insider Executes Share SalePresident of International Carlos Nueno sold 29,432 shares of company stock on November 6.
- Empire Life Launches Teladoc Men's Health Program in CanadaEmpire Life added a Men's Health Program to its group benefits, using Teladoc Health Canada's Expert Medical Opinion Service.
About Teladoc Health, Inc.
Teladoc Health is a New York-based virtual care company that offers remote doctor visits, mental health therapy, and chronic condition programs. Its customers are mainly employers, health plans, and hospital systems, which give Teladoc access to tens of millions of members, and it sells directly to consumers through its BetterHelp therapy brand.
How it makes money
Revenue is about $2.5 billion a year (approximate). It comes from two segments of roughly equal size. Integrated Care makes most of its money from per-member monthly fees and per-visit fees paid by employers and health plans. It also sells chronic care programs, such as diabetes management under the Livongo brand, and virtual-care platforms for hospitals (Solo). BetterHelp earns money from consumer subscriptions for online therapy and depends heavily on advertising to win customers. Total revenue has been falling slightly, down about 2% year over year in Q1 2026, and the company still reports net losses, which are largely due to amortization of past acquisitions.
What usually moves TDOC
- BetterHelp subscriber growth and ad costs to win customers
- Employer and health plan contract wins and renewals
- Progress toward profitability and free cash flow
- Chronic care and AI-enabled product adoption
- Telehealth reimbursement and regulation