American Well Co. (NYSE:AMWL) Receives $33.25 Consensus Target Price from Brokerages

Shares of American Well Co. (NYSE:AMWL) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.25.

Several research firms have weighed in on AMWL. BTIG Research began coverage on American Well in a research report on Wednesday, January 6th. They set a “neutral” rating for the company. Stifel Nicolaus initiated coverage on American Well in a research report on Friday, December 18th. They issued a “hold” rating and a $29.00 price objective for the company. Credit Suisse Group downgraded American Well from an “outperform” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Wednesday, January 27th. Piper Sandler lowered their price objective on American Well from $45.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, March 25th. Finally, Cowen lowered their price objective on American Well from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, March 25th.

In other American Well news, VP Bradford Gay sold 121,971 shares of the business’s stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $26.43, for a total transaction of $3,223,693.53. Following the transaction, the vice president now owns 822,664 shares in the company, valued at $21,743,009.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Roy Schoenberg sold 107,000 shares of the business’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $17.99, for a total value of $1,924,930.00. Following the transaction, the chief executive officer now owns 1,722,375 shares in the company, valued at approximately $30,985,526.25. The disclosure for this sale can be found here. Insiders sold 2,292,579 shares of company stock worth $59,291,818 in the last quarter.

Several institutional investors and hedge funds have recently modified their holdings of AMWL. American International Group Inc. acquired a new position in shares of American Well during the fourth quarter worth about $25,000. Jacobi Capital Management LLC acquired a new position in shares of American Well during the fourth quarter worth about $29,000. CWM LLC acquired a new position in shares of American Well in the fourth quarter worth about $37,000. Archer Investment Corp acquired a new position in shares of American Well in the fourth quarter worth about $46,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of American Well by 125.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,800 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 18.97% of the company’s stock.

Shares of AMWL stock opened at $16.89 on Monday. The stock has a fifty day moving average price of $22.35 and a 200 day moving average price of $26.76. American Well has a 1 year low of $15.53 and a 1 year high of $43.75.

American Well (NYSE:AMWL) last released its quarterly earnings results on Tuesday, March 23rd. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.25). The business had revenue of $60.40 million during the quarter, compared to the consensus estimate of $54.60 million. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, research analysts predict that American Well will post -3.38 earnings per share for the current year.

American Well Company Profile

American Well Corporation provides a telehealth application that connects and enables providers, insurers, patients, and innovators to deliver access to healthcare. Its application offers urgent care; pediatrics; therapy; menopause nutrition; menopause counseling; telestroke; population health management; telepsychiatry; pregnancy and postpartum nutrition; pregnancy and postpartum therapy; breastfeed support; menopause care; pregnancy and postpartum care; and chromic disease management services.

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Analyst Recommendations for American Well (NYSE:AMWL)

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