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

American Well (NYSE:AMWL) had its target price reduced by research analysts at Wells Fargo & Company from $12.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 119.51% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price target on American Well from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. Weiss Ratings reaffirmed 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.33.

American Well Price Performance

Shares of NYSE:AMWL opened at $4.10 on Wednesday. The firm has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $6.98. The company has a market cap of $66.22 million, a price-to-earnings ratio of -0.57 and a beta of 1.24. American Well has a one year low of $4.08 and a one year high of $12.95.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($1.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.83) by $0.09. The company had revenue of $56.29 million for the quarter, compared to the consensus estimate of $54.56 million. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%. American Well has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts expect that American Well will post -9.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Deborah C. Jackson sold 4,531 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $6.56, for a total transaction of $29,723.36. Following the transaction, the director owned 39,132 shares of the company’s stock, valued at approximately $256,705.92. This trade represents a 10.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dmitry Zamansky sold 25,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $6.77, for a total transaction of $173,345.85. Following the completion of the sale, the insider directly owned 197,711 shares of the company’s stock, valued at $1,338,503.47. This represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 49,383 shares of company stock valued at $331,514. 11.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 2,081 shares during the last quarter. Headlands Technologies LLC purchased a new position in American Well in the 2nd quarter worth approximately $39,000. Senvest Management LLC lifted its position in American Well by 0.3% in the second 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of American Well during the third quarter valued at approximately $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of American Well in the second quarter worth approximately $89,000. Hedge funds and other 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.