American Well Co. (NYSE:AMWL) Receives $9.67 Average PT from Brokerages

Shares of American Well Co. (NYSE:AMWL - Get Free Report) have earned a consensus recommendation of "Hold" from the seven brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.67.

A number of research analysts have commented on the stock. Stifel Nicolaus reduced 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 issued a $8.00 price objective (down from $10.00) on shares of American Well in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research report on Friday, May 2nd. Truist Financial dropped their price target on shares of American Well from $12.00 to $7.50 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group dropped 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.

American Well Price Performance

Shares of NYSE AMWL traded up $0.31 on Friday, hitting $7.30. The company's stock had a trading volume of 10,184 shares, compared to its average volume of 88,442. American Well has a 12-month low of $5.00 and a 12-month high of $12.95. The company has a market capitalization of $113.87 million, a price-to-earnings ratio of -0.52 and a beta of 1.22. The stock has a 50 day moving average of $7.26 and a 200-day moving average of $8.55.

American Well (NYSE:AMWL - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, beating the consensus estimate of ($3.09) by $1.36. The business had revenue of $66.83 million during the quarter, compared to the consensus estimate of $60.15 million. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. Sell-side analysts expect that American Well will post -9.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Phyllis Gotlib sold 4,781 shares of the 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 completion of the sale, the insider now directly owns 147,998 shares of the company's stock, valued at approximately $1,302,382.40. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.82% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. 4D Advisors LLC purchased a new position in American Well during the fourth quarter valued at approximately $1,088,000. Takeda Pharmaceutical Co. Ltd. purchased a new position in American Well during the fourth quarter valued at approximately $564,000. Senvest Management LLC grew its position in American Well by 3.9% during the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock valued at $9,429,000 after purchasing an additional 48,800 shares in the last quarter. Goldman Sachs Group Inc. grew its position in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock valued at $510,000 after purchasing an additional 47,745 shares in the last quarter. Finally, Jane Street Group LLC grew its position in 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 acquiring an additional 44,852 shares in the last quarter. 56.05% of the stock is 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.