American Well’s (AMWL) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of American Well (NYSE:AMWL) in a research report released on Friday morning,Benzinga reports. The firm currently has a $8.00 target price on the stock, down from their previous target price of $10.00.

A number of other research analysts also recently issued reports on AMWL. Stifel Nicolaus reduced their price objective on American Well from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. UBS Group cut their price target on American Well from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Friday, May 2nd. Finally, Truist Financial cut their price target on American Well from $12.00 to $7.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.67.

American Well Price Performance

Shares of NYSE:AMWL opened at $7.40 on Friday. The company has a market capitalization of $115.58 million, a PE ratio of -0.53 and a beta of 1.22. The business has a fifty day moving average price of $7.28 and a two-hundred day moving average price of $8.58. American Well has a 1 year low of $5.00 and a 1 year high of $12.95.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.09) by $1.36. The firm had revenue of $66.83 million during the quarter, compared to the consensus estimate of $60.15 million. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. Sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current year.

Insiders Place Their Bets

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now owns 147,998 shares in the company, valued at $1,302,382.40. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMWL. Compagnie Lombard Odier SCmA bought a new position in American Well in the 4th quarter worth about $45,000. OMERS ADMINISTRATION Corp bought a new position in American Well in the 4th quarter worth about $76,000. Sapient Capital LLC bought a new position in American Well in the 1st quarter worth about $79,000. Chancellor Financial Group WB LP bought a new position in American Well in the 4th quarter worth about $83,000. Finally, Corton Capital Inc. bought a new position in American Well in the 4th quarter worth about $134,000. Institutional investors own 56.05% of the company’s stock.

American Well Company Profile

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.