American Well (NYSE:AMWL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

American Well (NYSE:AMWL) had its price target lifted by Stifel Nicolaus from $11.00 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus‘s target price suggests a potential downside of 6.88% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their target price on American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 17th. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a research report on Thursday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.90.

American Well Price Performance

Shares of NYSE:AMWL opened at $12.89 on Wednesday. The stock’s 50-day moving average is $12.95 and its 200 day moving average is $8.99. The company has a market cap of $213.26 million, a PE ratio of -2.70 and a beta of 1.72. American Well has a 1 year low of $3.71 and a 1 year high of $15.16.

American Well (NYSE:AMWL) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.11. The business had revenue of $48.99 million during the quarter, compared to analysts’ expectations of $47.28 million. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. Analysts expect that American Well will post -2.56 EPS for the current fiscal year.

Insider Activity at American Well

In other American Well news, insider Phyllis Gotlib sold 6,677 shares of the company’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 transaction of $86,801.00. Following the transaction, the insider owned 142,504 shares in the company, valued at approximately $1,852,552. This represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dmitry Zamansky sold 8,442 shares of the company’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 transaction, the insider owned 224,178 shares in the company, valued at $2,914,314. This trade represents a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 19,457 shares of company stock worth $248,519. Insiders own 12.84% of the company’s stock.

Institutional Trading of American Well

A hedge fund recently bought a new stake in American Well stock. Candriam S.C.A. bought a new position in American Well Corporation (NYSE:AMWL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,441 shares of the company’s stock, valued at approximately $142,000. Candriam S.C.A. owned 0.06% of American Well at the end of the most recent reporting period. 56.05% of the stock is currently owned by institutional investors and hedge funds.

About American Well

American Well, doing business as Amwell, is a digital healthcare 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 and specialty consultations.

Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.

Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.