American Well Corporation (NYSE:AMWL) Given Average Rating of "Hold" by Brokerages

Key Points

• American Well Corporation has a consensus recommendation of "Hold" from analysts, with an average 12-month price target of $9.17.
• The company's stock currently trades at $7.24, with a market cap of approximately $112.95 million and a 12-month price fluctuation between $6.09 and $12.95.
• American Well's recent quarterly earnings report showed a loss of ($1.24) per share, beating analysts' estimates and generating revenue of $70.9 million for the quarter.

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.1667.

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on American Well from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group decreased their price target on American Well from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus reduced their price objective on 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 note on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research note on Friday, May 2nd.

American Well Stock Down 0.5%

NYSE:AMWL traded down $0.04 during trading hours on Friday, reaching $7.24. 1,923 shares of the stock were exchanged, compared to its average volume of 59,632. The business has a 50-day moving average of $7.73 and a two-hundred day moving average of $8.23. American Well has a twelve month low of $6.09 and a twelve month high of $12.95. The company has a market capitalization of $113.02 million, a price-to-earnings ratio of -0.90 and a beta of 1.28.

American Well (NYSE:AMWL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts' consensus estimates of ($1.84) by $0.60. American Well had a negative return on equity of 41.99% and a negative net margin of 46.15%. The company had revenue of $70.90 million for the quarter, compared to analysts' expectations of $63.87 million. On average, research analysts forecast that American Well will post -9.34 EPS for the current fiscal year.

Insider Activity

In other American Well news, insider Phyllis Gotlib sold 4,958 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $8.63, for a total value of $42,787.54. Following the sale, the insider directly owned 136,891 shares in the company, valued at $1,181,369.33. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 10,184 shares of company stock valued at $78,000 in the last 90 days. 12.80% of the stock is currently owned by company insiders.

Institutional Trading of American Well

Hedge funds and other institutional investors have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp acquired a new stake in American Well in the fourth quarter valued at $76,000. Sapient Capital LLC purchased a new position in shares of American Well during the first quarter worth about $79,000. Chancellor Financial Group WB LP purchased a new position in shares of American Well during the fourth quarter worth about $83,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of American Well during the second quarter worth about $89,000. Finally, Corton Capital Inc. purchased a new position in shares of American Well during the fourth quarter worth about $134,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

About American Well

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.