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

Shares of American Well Co. (NYSE:AMWL - Get Free Report) have been given an average recommendation of "Hold" by the seven ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.67.

Several brokerages have recently issued reports on AMWL. Stifel Nicolaus lowered their price objective on shares of American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. 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 note on Friday. UBS Group decreased their price target on shares of American Well from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of American Well in a report on Friday, May 2nd. Finally, Truist Financial cut their price objective on shares of American Well from $12.00 to $7.50 and set a "hold" rating for the company in a research report on Thursday, April 10th.

Insiders Place Their Bets

In related news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now owns 147,998 shares of the company's stock, valued at $1,302,382.40. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.82% of the company's stock.

Institutional Investors Weigh In On American Well

Several large investors have recently modified their holdings of the stock. Senvest Management LLC lifted its position in shares of American Well by 3.9% during the 4th 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 during the period. Acadian Asset Management LLC lifted its holdings in shares of American Well by 19.5% during the first quarter. Acadian Asset Management LLC now owns 188,217 shares of the company's stock valued at $1,481,000 after acquiring an additional 30,669 shares during the period. 4D Advisors LLC bought a new position in shares of American Well during the fourth quarter valued at $1,088,000. Geode Capital Management LLC boosted its stake in shares of American Well by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company's stock valued at $1,073,000 after purchasing an additional 922 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of American Well by 39.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company's stock worth $701,000 after purchasing an additional 27,343 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors.

American Well Stock Down 3.7%

AMWL stock traded down $0.28 during mid-day trading on Friday, reaching $7.14. 72,925 shares of the stock traded hands, compared to its average volume of 88,754. The firm has a market capitalization of $111.49 million, a PE ratio of -0.51 and a beta of 1.22. The business has a 50-day moving average of $7.27 and a two-hundred day moving average of $8.56. American Well has a 52 week low of $5.00 and a 52 week high of $12.95.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, topping the consensus estimate of ($3.09) by $1.36. The business had revenue of $66.83 million during the quarter, compared to analysts' expectations 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 EPS for the current fiscal year.

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.