American Well (NYSE:AMWL) Stock Price Target Raised at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on American Well from $11 to $12 but maintained a Hold rating; the new target implies 6.88% downside from the prior close.
• Analyst sentiment is mixed but averages to Hold: one Buy, five Holds and one Sell, with a consensus price target of $10.90.
• American Well beat quarterly estimates, reporting a loss of $0.67 per share versus expectations of $0.78 and revenue of $48.99 million versus forecasts of $47.28 million.

American Well (NYSE:AMWL - Get Free Report) had its target price upped by research analysts at Stifel Nicolaus from $11.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus's price objective suggests a potential downside of 6.88% from the company's previous close.

A number of other analysts also recently weighed in on AMWL. Weiss Ratings restated a "sell (d-)" rating on shares of American Well in a research report on Thursday, October 15th. Wells Fargo & Company upped their target price on American Well from $9.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Truist Financial set a $12.00 price target on shares of American Well and gave the company a "hold" rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC reissued a "hold" rating on shares of American Well in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.90.

American Well Stock Up 2.9%

Shares of AMWL stock opened at $12.89 on Wednesday. The business has a 50-day moving average price of $12.95 and a two-hundred day moving average price of $8.99. American Well has a 12-month low of $3.71 and a 12-month high of $15.16. The firm has a market cap of $213.26 million, a P/E ratio of -2.70 and a beta of 1.72.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.11. The firm had revenue of $48.99 million during the quarter, compared to analysts' expectations of $47.28 million. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. As a group, research analysts expect that American Well will post -2.56 EPS for the current fiscal year.

Insider Activity

In related news, insider Dmitry Zamansky sold 8,442 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $109,746.00. Following the completion of the sale, the insider directly owned 224,178 shares in the company, valued at $2,914,314. This represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Phyllis Gotlib sold 6,677 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $86,801.00. Following the transaction, the insider owned 142,504 shares in the company, valued at approximately $1,852,552. The trade was a 4.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,457 shares of company stock valued at $248,519 over the last 90 days. 12.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in American Well stock. Candriam S.C.A. purchased a new stake in shares of American Well Corporation (NYSE:AMWL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,441 shares of the company's stock, valued at approximately $142,000. Candriam S.C.A. owned about 0.06% of American Well as of its most recent SEC filing. Institutional investors and hedge funds own 56.05% of the company's stock.

About American Well

American Well, doing business as Amwell, is a digital healthcare company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care and specialty consultations.

Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.

Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.

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