American Well Corporation (NYSE:AMWL) Receives $9.67 Consensus Target Price from Analysts

American Well Corporation (NYSE:AMWL) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.67.

AMWL has been the topic of several research reports. Truist Financial dropped their price objective on American Well from $12.00 to $7.50 and set a “hold” rating on the stock in a report on Thursday, April 10th. Piper Sandler restated a “neutral” rating and issued a $8.00 price objective (down previously from $10.00) on shares of American Well in a research report on Friday, May 23rd. Stifel Nicolaus reduced their price target on shares of American Well from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Friday, May 2nd. Finally, UBS Group reduced their price target on shares of American Well from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th.

Insider Buying and Selling at American Well

In other American Well news, insider Phyllis Gotlib sold 4,958 shares of American Well stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $42,787.54. Following the transaction, the insider owned 136,891 shares of the company’s stock, valued at $1,181,369.33. The trade was a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 10,184 shares of company stock valued at $78,000. 11.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Well

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in American Well by 280.6% in the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after buying an additional 47,745 shares during the last quarter. Acadian Asset Management LLC boosted its position in American Well by 19.5% during the first quarter. Acadian Asset Management LLC now owns 188,217 shares of the company’s stock worth $1,481,000 after purchasing an additional 30,669 shares during the period. Jane Street Group LLC boosted its position in American Well by 232.9% during the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after purchasing an additional 44,852 shares during the period. OMERS ADMINISTRATION Corp boosted its position in American Well by 207.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 32,331 shares of the company’s stock worth $255,000 after purchasing an additional 21,831 shares during the period. Finally, Sapient Capital LLC bought a new stake in American Well during the first quarter worth approximately $79,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Trading Up 4.4%

American Well stock opened at $8.35 on Monday. American Well has a twelve month low of $6.10 and a twelve month high of $12.95. The stock’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $8.28. The firm has a market capitalization of $130.36 million, a P/E ratio of -0.82 and a beta of 1.29.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. The business had revenue of $66.83 million for the quarter, compared to analyst estimates of $60.15 million. American Well had a negative return on equity of 48.36% and a negative net margin of 59.13%. Sell-side analysts predict that American Well will post -9.34 earnings per share for the current year.

American Well Company Profile

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.