American Well Corporation (NYSE:AMWL) Receives $7.42 Consensus Target Price from Brokerages

American Well Corporation (NYSE:AMWL) has earned an average rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.4167.

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price objective on American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Stifel Nicolaus lowered their price target on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, February 13th.

American Well Price Performance

Shares of American Well stock opened at $5.68 on Friday. American Well has a 1 year low of $3.71 and a 1 year high of $9.15. The firm’s 50-day moving average is $5.10 and its 200 day moving average is $5.14. The stock has a market cap of $94.02 million, a price-to-earnings ratio of -0.95 and a beta of 1.34.

American Well (NYSE:AMWL) last issued its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.59) by $0.07. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The business had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $52.71 million. On average, equities analysts expect that American Well will post -9.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $4.85, for a total value of $30,278.55. Following the completion of the transaction, the insider owned 191,468 shares of the company’s stock, valued at approximately $928,619.80. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 10,334 shares of company stock valued at $50,120. 12.80% of the stock is currently owned by insiders.

Institutional Trading of American Well

A number of large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in American Well during the second quarter valued at approximately $39,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Well in the third quarter worth approximately $62,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in American Well in the 2nd quarter worth approximately $89,000. Engineers Gate Manager LP purchased a new stake in American Well during the 2nd quarter valued at $101,000. Finally, Prelude Capital Management LLC purchased a new stake in American Well during the 3rd quarter valued at $86,000. 56.05% of the stock is currently owned by institutional investors.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.