Brokerages Anticipate American Well Co. (NYSE:AMWL) Will Announce Quarterly Sales of $64.67 Million

Wall Street brokerages expect American Well Co. (NYSE:AMWLGet Rating) to announce $64.67 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for American Well’s earnings, with the highest sales estimate coming in at $68.48 million and the lowest estimate coming in at $58.89 million. American Well reported sales of $57.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.3%. The firm is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that American Well will report full year sales of $278.38 million for the current financial year, with estimates ranging from $274.71 million to $284.98 million. For the next year, analysts anticipate that the company will post sales of $323.43 million, with estimates ranging from $300.32 million to $342.93 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover American Well.

American Well (NYSE:AMWLGet Rating) last released its earnings results on Thursday, February 24th. The company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.10. The company had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.93 million. American Well had a negative net margin of 69.80% and a negative return on equity of 14.21%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) EPS.

Several equities research analysts have recently weighed in on AMWL shares. Zacks Investment Research raised shares of American Well from a “sell” rating to a “hold” rating in a research report on Thursday, March 3rd. Wells Fargo & Company dropped their target price on shares of American Well from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Monday, February 28th. The Goldman Sachs Group started coverage on shares of American Well in a research report on Friday, February 11th. They issued a “neutral” rating and a $6.00 target price for the company. Guggenheim started coverage on shares of American Well in a research report on Wednesday, April 13th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of American Well from $12.00 to $7.00 in a research report on Friday, February 25th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $9.13.

AMWL opened at $3.13 on Monday. The company has a 50-day moving average of $3.79 and a 200-day moving average of $5.41. The company has a market capitalization of $824.18 million, a P/E ratio of -4.54 and a beta of 0.60. American Well has a 1-year low of $2.83 and a 1-year high of $16.15.

In other American Well news, insider Phyllis Gotlib sold 13,750 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $4.04, for a total transaction of $55,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ido Schoenberg sold 40,720 shares of the business’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $3.58, for a total transaction of $145,777.60. Following the transaction, the chief executive officer now directly owns 2,509,580 shares of the company’s stock, valued at $8,984,296.40. The disclosure for this sale can be found here. Insiders have sold a total of 321,047 shares of company stock valued at $1,197,231 over the last three months. 14.68% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of AMWL. Nisa Investment Advisors LLC lifted its stake in shares of American Well by 440.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the company’s stock worth $34,000 after acquiring an additional 6,600 shares during the period. Vigilant Capital Management LLC acquired a new stake in shares of American Well in the 1st quarter worth approximately $42,000. Sciencast Management LP acquired a new stake in shares of American Well in the 1st quarter worth approximately $45,000. Gagnon Securities LLC acquired a new stake in shares of American Well in the 4th quarter worth approximately $62,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of American Well in the 4th quarter worth approximately $62,000. 43.75% of the stock is owned by institutional investors.

American Well Company Profile (Get Rating)

American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.

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