Stifel Nicolaus Cuts American Well (NYSE:AMWL) Price Target to $8.00

American Well (NYSE:AMWL - Get Free Report) had its target price reduced by equities researchers at Stifel Nicolaus from $10.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 18.06% from the stock's previous close.

AMWL has been the topic of a number of other reports. Wells Fargo & Company raised shares of American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a research note on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of American Well in a research note on Friday, May 2nd. Finally, Truist Financial decreased their price objective on shares of American Well from $12.00 to $7.50 and set a "hold" rating for the company in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, American Well has a consensus rating of "Hold" and an average price target of $10.60.

American Well Price Performance

Shares of AMWL traded down $0.01 during mid-day trading on Friday, reaching $6.78. 16,327 shares of the company's stock traded hands, compared to its average volume of 90,963. The stock has a market cap of $105.77 million, a P/E ratio of -0.49 and a beta of 1.22. The stock's 50-day moving average is $7.58 and its two-hundred day moving average is $8.78. American Well has a 12 month low of $5.00 and a 12 month high of $12.95.

American Well (NYSE:AMWL - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($1.73) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $66.83 million during the quarter, compared to analysts' expectations of $60.15 million. Research analysts predict that American Well will post -9.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Phyllis Gotlib sold 4,781 shares of American Well stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total transaction of $42,072.80. Following the sale, the insider now owns 147,998 shares of the company's stock, valued at $1,302,382.40. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

A number of large investors have recently bought and sold shares of the business. 4D Advisors LLC bought a new position in American Well in the 4th quarter worth about $1,088,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in shares of American Well in the 4th quarter worth approximately $564,000. Senvest Management LLC lifted its position in shares of American Well by 3.9% during the 4th 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. Norges Bank acquired a new position in American Well in the 4th quarter valued at approximately $204,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of American Well by 39.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company's stock valued at $701,000 after buying an additional 27,343 shares in the last quarter. Institutional investors own 56.05% of the company's stock.

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.