What Happened:
Shares of digital medical services platform Teladoc Health (NYSE:TDOC) jumped 5.47% in the after-market session after the company's revenue and earnings per share (EPS) exceeded analysts' estimates in its fiscal third quarter. In addition, revenue and EBITDA guidance for the next quarter and the full year also topped the consensus estimates. Stocks generally follow the direction of Consensus estimates, so this quarter's earnings show why the stock is up nicely today.
What is the market telling us:
Teladoc's shares are very volatile and over the last year have had 69 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Teladoc is up 21.7% since the beginning of the year, but at $27.47 per share it is still trading 50.9% below its 52-week high of $55.99 from April 2022. Investors who bought $1,000 worth of Teladoc's shares 5 years ago would now be looking at an investment worth $639.07.
Is now the time to buy Teladoc? Access our full analysis of the earnings results here, it's free.