Is It Too Late to Buy Teladoc Stock?
With people staying at home as much as possible in this new era of social distancing, Teladoc Health (NYSE: TDOC) is seeing demand for its virtual care services skyrocket. The company is skyrocketing in 2020: Its sales have grown at a rate of 85% this year, while its share price is already up more than 150%.
With those kinds of numbers, investors may be wondering whether it's too late to invest, and if they've missed the boat on this red-hot stock. However, let's take a closer look at how the New York-based company has done this year, whether it can continue its impressive growth, and if the stock is still a good buy.
In Teladoc's second-quarter results, released July 29, revenue soared to $241 million, up from $130.3 million in the prior-year period. When it released its first-quarter results back in April, Teladoc was projecting second-quarter to reach a high of only $225 million. It also projected total virtual visits to reach up to 2.4 million. The company blew through those numbers, notching 2.8 million total visits during Q2. U.S. paid memberships of 51.5 million at the end of the quarter were also better than the 49 million to 50 million Teladoc was expecting.
Source Fool.com
