American Well (NYSE:AMWL) Price Target Raised to $10.00

American Well (NYSE:AMWL) had its price objective lifted by Stifel Nicolaus from $9.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 15.97% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company upgraded shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Monday, January 13th. Morgan Stanley decreased 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a report on Thursday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.88.

American Well Price Performance

AMWL traded down $0.45 on Thursday, reaching $11.90. 13,329 shares of the company’s stock were exchanged, compared to its average volume of 60,096. The stock has a market cap of $182.31 million, a PE ratio of -0.81 and a beta of 1.18. American Well has a twelve month low of $5.00 and a twelve month high of $29.00. The stock’s fifty day moving average price is $9.21 and its 200-day moving average price is $9.12.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts predict that American Well will post -13.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Well

Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its stake in American Well by 7,673.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after buying an additional 181,715 shares during the period. Takeda Pharmaceutical Co. Ltd. purchased a new stake in American Well during the 4th quarter worth approximately $564,000. HighTower Advisors LLC purchased a new stake in American Well during the 3rd quarter worth approximately $355,000. Norges Bank purchased a new stake in American Well during the 4th quarter worth approximately $204,000. Finally, Walleye Capital LLC acquired a new position in shares of American Well in the 3rd quarter valued at $167,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

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.