American Well (NYSE:AMWL) Given Neutral Rating at Piper Sandler

American Well (NYSE:AMWL - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $8.00 price target on the stock, down from their previous price target of $10.00. Piper Sandler's target price would suggest a potential upside of 8.77% from the company's previous close.

AMWL has been the topic of several other research reports. UBS Group lowered their target price on shares of American Well from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. 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 report on Thursday, April 10th. Needham & Company LLC restated a "hold" rating on shares of American Well in a report on Friday, May 2nd. Finally, Stifel Nicolaus dropped their price target on American Well from $10.00 to $8.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, American Well has an average rating of "Hold" and a consensus target price of $9.67.

American Well Stock Down 0.6%

Shares of AMWL stock traded down $0.05 during trading hours on Friday, hitting $7.36. 3,939 shares of the company's stock were exchanged, compared to its average volume of 88,757. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $12.95. The firm has a market cap of $114.81 million, a P/E ratio of -0.52 and a beta of 1.22. The firm has a 50 day moving average of $7.29 and a two-hundred day moving average of $8.59.

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 (EPS) for the quarter, beating the consensus estimate of ($3.09) by $1.36. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. The business had revenue of $66.83 million for the quarter, compared to the consensus estimate of $60.15 million. On average, equities analysts forecast that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Phyllis Gotlib sold 4,781 shares of the company's stock in a transaction that occurred on 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 approximately $1,302,382.40. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.82% of the company's stock.

Institutional Investors Weigh In On American Well

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 4D Advisors LLC purchased a new position in shares of American Well during the 4th quarter worth $1,088,000. Takeda Pharmaceutical Co. Ltd. purchased a new position in American Well during the fourth quarter worth about $564,000. Senvest Management LLC increased its position in shares of 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 acquiring an additional 48,800 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock valued at $510,000 after acquiring an additional 47,745 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of American Well by 232.9% in the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company's stock valued at $505,000 after acquiring an additional 44,852 shares during the period. Institutional investors and hedge funds own 56.05% of the company's stock.

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.

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