Canaccord analyst Richard Close noted Teladoc announced an acquisition of privately held InTouch allowing it to enter the hospital market in a big way. He is positive on the deal as it significantly expands its opportunity in the hospital and health system market segment, in addition to making the combined company the virtual care platform market leader in the employer, payer, and now provider segments. Close reiterated his Buy rating and $95 price target on Teladoc shares.

Barclays lowered the firm's price target on Teladoc to $20 from $25 and keeps an Overweight rating on the shares post the Q1 report. The shares were down post the earnings call on a print that featured a headline beat offset by a Q2 guidance miss and steep second half of the year ramp in BetterHelp revenues, the analyst tells investors in a research note. The firm sees a "show me story" but continues to believe in the inherent long term value of Teladoc's business.

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."