American Well Corporation (NYSE:AMWL) Stock Has Average Price Target of $9.50

Key Points

• Analyst sentiment is neutral: Seven analysts give American Well an average “Hold” rating, with a consensus 12-month price target of $9.50.
• Recent financial results exceeded expectations: Amwell reported quarterly revenue of $52.05 million and an adjusted loss of $0.59 per share, beating analyst estimates, though it remains unprofitable.
• Insiders have been selling shares: Company insiders sold 19,457 shares worth approximately $248,519 over the past 90 days, while institutional investors own 56.05% of the stock.

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have received an average recommendation of "Hold" from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.50.

A number of research firms have recently issued reports on AMWL. Wells Fargo & Company upped their target price on shares of American Well from $9.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Truist Financial set a $12.00 price target on shares of American Well and gave the stock a "hold" rating in a research note on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of American Well in a research report on Friday, July 17th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a research note on Wednesday, August 5th.

Insider Activity at American Well

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in American Well stock. Senvest Management LLC increased its position in shares of American Well Corporation (NYSE:AMWL - Free Report) by 213.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,136,558 shares of the company's stock after acquiring an additional 773,834 shares during the quarter. Senvest Management LLC owned approximately 6.87% of American Well worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 56.05% of the company's stock.

American Well Price Performance

NYSE AMWL opened at $12.28 on Wednesday. The stock's 50 day simple moving average is $12.60 and its 200-day simple moving average is $9.60. The company has a market cap of $203.27 million, a PE ratio of -2.57 and a beta of 1.67. American Well has a 1-year low of $3.71 and a 1-year high of $14.19.

American Well (NYSE:AMWL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.27. The firm had revenue of $52.05 million during the quarter, compared to analysts' expectations of $49.87 million. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. On average, equities research analysts anticipate that American Well will post -2.56 EPS for the current fiscal year.

About American Well

American Well Corporation, doing business as Amwell, is a digital health 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, specialty care and chronic-condition management.

Amwell also provides software and infrastructure that enable health systems, health plans, employers and government organizations to offer and manage digital healthcare programs.

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