Craig-Hallum analyst Matt Hewitt lowered his price target for Teladoc to $70 from $80, while reiterating a Buy rating on the shares. The analyst views Q1 as a "solid" quarter that highlights the diversification of Teladoc's revenue model, noting that despite flu volumes being down 32% year over year revenue grew by 23% organically, which enabled essentially in-line results.

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."