Analysts Set American Well Co. (NYSE:AMWL) Price Target at $9.67

Shares of American Well Co. (NYSE:AMWL - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.67.

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on American Well from $12.00 to $7.50 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus lowered their target price on American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research report on Friday, May 2nd. UBS Group lowered their target price on American Well from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Piper Sandler reiterated a "neutral" rating and set a $8.00 target price (down from $10.00) on shares of American Well in a research report on Friday, May 23rd.

American Well Stock Performance

Shares of AMWL stock traded up $0.03 on Friday, reaching $7.02. The stock had a trading volume of 31,587 shares, compared to its average volume of 88,207. The stock has a market cap of $109.58 million, a P/E ratio of -0.50 and a beta of 1.22. American Well has a 1 year low of $5.00 and a 1 year high of $12.95. The company has a 50 day simple moving average of $7.22 and a 200 day simple moving average of $8.53.

American Well (NYSE:AMWL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.09) by $1.36. The firm had revenue of $66.83 million for the quarter, compared to the consensus estimate of $60.15 million. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. On average, equities research analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Phyllis Gotlib sold 4,781 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the transaction, the insider now directly owns 147,998 shares in the company, valued at $1,302,382.40. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.82% of the company's stock.

Hedge Funds Weigh In On American Well

Several large investors have recently made changes to their positions in AMWL. 4D Advisors LLC purchased a new position in shares of American Well in the fourth quarter valued at about $1,088,000. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the fourth quarter worth about $564,000. Senvest Management LLC lifted its position in shares of American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock worth $9,429,000 after buying an additional 48,800 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of American Well by 280.6% in the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock worth $510,000 after buying an additional 47,745 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company's stock worth $505,000 after buying an additional 44,852 shares in the last quarter. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.