American Well (NYSE:AMWL) Price Target Raised to $12.00 at Truist Financial

American Well (NYSE:AMWL) had its target price raised by equities research analysts at Truist Financial from $10.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 3.54% from the company’s current price.

Several other research analysts have also recently commented on AMWL. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Monday, January 13th. Stifel Nicolaus upped their target price on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Morgan Stanley reduced their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.90.

American Well Stock Performance

Shares of AMWL traded down $0.14 during midday trading on Friday, hitting $11.59. 35,508 shares of the stock were exchanged, compared to its average volume of 62,263. The firm has a market cap of $177.56 million, a P/E ratio of -0.79 and a beta of 1.18. American Well has a 52-week low of $5.00 and a 52-week high of $29.00. The stock has a fifty day simple moving average of $9.26 and a 200 day simple moving average of $9.14.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 84.27% and a negative return on equity of 52.49%. As a group, equities research analysts forecast that American Well will post -13.38 EPS for the current fiscal year.

Hedge Funds Weigh In On American Well

A number of large investors have recently bought and sold shares of the business. Senvest Management LLC boosted its holdings in shares of American Well by 3.9% during the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after purchasing an additional 48,800 shares during the period. Geode Capital Management LLC lifted its stake in shares of American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after buying an additional 922 shares during the last quarter. Norges Bank acquired a new position in American Well in the 4th quarter valued at $204,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in American Well during the 4th quarter worth $564,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in American Well during the fourth quarter valued at about $45,000. Institutional investors own 56.05% of the company’s stock.

About American Well

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.