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

Shares of American Well Corporation (NYSE:AMWL) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.50.

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a research note on Thursday, October 15th. Wells Fargo & Company boosted their price objective on American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Truist Financial set a $12.00 target price on shares of American Well and gave the stock 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 report on Wednesday, August 5th.

American Well Stock Performance

NYSE AMWL opened at $12.75 on Friday. The firm’s fifty day moving average price is $12.91 and its two-hundred day moving average price is $8.91. The stock has a market cap of $211.08 million, a PE ratio of -2.67 and a beta of 1.67. American Well has a fifty-two week low of $3.71 and a fifty-two week high of $15.16.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.27. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. The business had revenue of $52.05 million for the quarter, compared to analyst estimates of $49.87 million. As a group, sell-side analysts predict that American Well will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at American Well

In other news, insider Dmitry Zamansky sold 8,442 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 $109,746.00. Following the transaction, the insider owned 224,178 shares in the company, valued at $2,914,314. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phyllis Gotlib sold 6,677 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $86,801.00. Following the completion of the transaction, the insider owned 142,504 shares in the company, valued at $1,852,552. This represents a 4.48% decrease in their position. 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 in the last quarter. Company insiders own 12.84% of the company’s stock.

Hedge Funds Weigh In On American Well

A hedge fund recently raised its stake in American Well stock. Senvest Management LLC raised its stake in shares of American Well Corporation (NYSE:AMWL) by 213.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,136,558 shares of the company’s stock after acquiring an additional 773,834 shares during the period. Senvest Management LLC owned about 6.87% of American Well worth $5,978,000 as of its most recent SEC filing. Institutional investors 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.