American Well Corporation (NYSE:AMWL) Stock Has Average Target Price of $9.50 According to Brokerages

Shares of American Well Corporation (NYSE:AMWL) have earned a consensus rating of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.50.

A number of research firms recently issued reports on AMWL. Wells Fargo & Company raised their target price on shares of American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of American Well in a report on Friday, July 17th. Finally, Truist Financial set a $12.00 price target on shares of American Well and gave the company a “hold” rating in a report on Thursday, August 13th.

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 8,442 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $109,746.00. Following the sale, the insider owned 224,178 shares of the company’s stock, valued at $2,914,314. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Phyllis Gotlib sold 6,677 shares of American Well stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $86,801.00. Following the completion of the transaction, the insider directly owned 142,504 shares in the company, valued at approximately $1,852,552. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,457 shares of company stock worth $248,519 over the last quarter. 12.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Well

An institutional investor recently bought a new position in American Well stock. Whetstone Capital Advisors LLC purchased a new stake in American Well Corporation (NYSE:AMWL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $123,000. Whetstone Capital Advisors LLC owned 0.15% of American Well at the end of the most recent reporting period. Institutional investors own 56.05% of the company’s stock.

American Well Stock Down 1.8%

Shares of American Well stock opened at $12.21 on Wednesday. The stock has a market capitalization of $202.04 million, a P/E ratio of -2.56 and a beta of 1.67. The stock has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $9.84. American Well has a 12-month low of $3.71 and a 12-month high of $14.19.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.27. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. The company had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. Sell-side analysts anticipate that American Well will post -2.56 earnings per share for the current year.

American Well Company Profile

American Well Corporation, doing business as Amwell, is a digital health company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care, specialty care and chronic-condition management.

Amwell also provides software and infrastructure that enable health systems, health plans, employers and government organizations to offer and manage digital healthcare programs.