After the Southern Investigative Reporting Foundation, or SIRF, published a report including allegations of a workplace relationship between Teladoc CFO Mark Hirschhorn and an employee, Piper Jaffray analyst Sean Wieland said he believes the CFO being replaced is unlikely given the company's earlier investigation. While he believes it is important for the company to take steps to promote a fair, inclusive, and equitable workplace, Wieland noted that alleged actions of the CFO don't affect the telehealth market, nor the company's product offerings or demand for the service. Given that, and his belief that the risk of a CFO change is unlikely, he recommends buying on weakness and keeps an Overweight rating and $88 price target on Teladoc shares.

Reports Q1 revenue $646.13M, consensus $637.29M. "We are pleased to report a solid start to the year, with strength in both revenue and adjusted EBITDA in the first quarter," said Mala Murthy, acting chief executive officer and chief financial officer of Teladoc Health. "During this period of transition, our team remains laser focused on our key initiatives, which include building upon our market leadership position; driving increased product penetration through our large installed base of over 90 million virtual care members; and accelerating our bottom-line performance."