American Well (NYSE:AMWL) Price Target Raised to $13.00

American Well (NYSE:AMWL) had its price objective hoisted by TD Cowen from $12.00 to $13.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of American Well in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on American Well from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on American Well from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a research report on Thursday, October 15th. Finally, Truist Financial set a $12.00 target price on American Well and gave the company a “hold” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.30.

American Well Price Performance

Shares of American Well stock traded down $0.14 during trading on Wednesday, reaching $11.97. 110,586 shares of the stock traded hands, compared to its average volume of 116,415. The company has a market capitalization of $198.10 million, a price-to-earnings ratio of -3.48 and a beta of 1.72. The business has a fifty day simple moving average of $12.97 and a two-hundred day simple moving average of $9.10. American Well has a 52-week low of $3.71 and a 52-week high of $15.16.

American Well (NYSE:AMWL) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.11. The firm had revenue of $48.99 million for 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%. On average, research analysts predict that American Well will post -2.46 earnings per share for the current fiscal year.

Insider Activity

In other American Well news, insider Dmitry Zamansky sold 8,442 shares of the business’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 $109,746.00. Following the sale, the insider directly owned 224,178 shares of the company’s stock, valued at $2,914,314. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Phyllis Gotlib sold 6,677 shares of the business’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 $86,801.00. Following the sale, the insider directly owned 142,504 shares in the company, valued at $1,852,552. The trade was a 4.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,457 shares of company stock worth $248,519 over the last 90 days. Corporate insiders own 12.84% of the company’s stock.

Institutional Investors Weigh In On American Well

A hedge fund recently raised its stake in American Well stock. Senvest Management LLC lifted its stake in American Well Corporation (NYSE:AMWL) by 213.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,136,558 shares of the company’s stock after purchasing an additional 773,834 shares during the quarter. Senvest Management LLC owned about 6.87% of American Well worth $5,978,000 at the end of the most recent reporting period. Institutional investors own 56.05% of the company’s stock.

American Well Company Profile

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.