Wells Fargo & Company Issues Pessimistic Forecast for American Well (NYSE:AMWL) Stock Price

American Well (NYSE:AMWL) had its price target lowered by Wells Fargo & Company from $12.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 90.07% from the stock’s previous close.

A number of other brokerages have also recently commented on AMWL. Stifel Nicolaus dropped their price objective on shares of American Well from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.33.

American Well Stock Performance

Shares of NYSE:AMWL traded down $0.32 on Wednesday, reaching $4.74. The company’s stock had a trading volume of 38,954 shares, compared to its average volume of 63,619. American Well has a 52-week low of $4.75 and a 52-week high of $12.95. The company has a market cap of $76.47 million, a P/E ratio of -0.59 and a beta of 1.24. The company has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $7.02.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($1.74) EPS for the quarter, topping analysts’ consensus estimates of ($1.83) by $0.09. American Well had a negative net margin of 46.15% and a negative return on equity of 41.99%. The business had revenue of $56.29 million during the quarter, compared to analysts’ expectations of $54.56 million. American Well has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts forecast that American Well will post -9.34 EPS for the current fiscal year.

Insider Activity at American Well

In related news, insider Dmitry Zamansky sold 25,605 shares of American Well stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $6.77, for a total transaction of $173,345.85. Following the completion of the sale, the insider owned 197,711 shares in the company, valued at $1,338,503.47. This trade represents a 11.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Phyllis Gotlib sold 4,959 shares of American Well stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $6.11, for a total transaction of $30,299.49. Following the sale, the insider owned 127,151 shares of the company’s stock, valued at $776,892.61. The trade was a 3.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,383 shares of company stock worth $331,514 in the last 90 days. 12.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after purchasing an additional 2,081 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of American Well in the 2nd quarter valued at about $39,000. Senvest Management LLC raised its holdings in shares of American Well by 0.3% in the 2nd quarter. Senvest Management LLC now owns 1,312,852 shares of the company’s stock valued at $11,671,000 after purchasing an additional 4,497 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of American Well in the 3rd quarter valued at about $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of American Well in the 2nd quarter valued at about $89,000. Institutional investors own 56.05% of the company’s stock.

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.