UBS Group Has Lowered Expectations for American Well (NYSE:AMWL) Stock Price

American Well (NYSE:AMWL) had its price objective reduced by investment analysts at UBS Group from $12.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 31.96% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial dropped their price target on shares of American Well from $12.00 to $7.50 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus cut their price target on shares of American Well from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Friday, May 2nd. Finally, Wells Fargo & Company raised American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, American Well currently has an average rating of “Hold” and a consensus price target of $10.00.

American Well Stock Performance

Shares of NYSE:AMWL opened at $6.82 on Thursday. The firm has a market cap of $106.46 million, a PE ratio of -0.49 and a beta of 1.22. American Well has a 52 week low of $5.00 and a 52 week high of $12.95. The firm’s fifty day moving average is $7.44 and its 200-day moving average is $8.72.

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

Insider Activity

In related news, insider Phyllis Gotlib sold 4,781 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the transaction, the insider now directly owns 147,998 shares of the company’s stock, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On American Well

Institutional investors have recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in American Well during the 4th quarter valued at $45,000. OMERS ADMINISTRATION Corp acquired a new position in American Well during the 4th quarter valued at about $76,000. Sapient Capital LLC bought a new stake in American Well during the 1st quarter worth approximately $79,000. Chancellor Financial Group WB LP purchased a new stake in American Well in the 4th quarter valued at $83,000. Finally, Corton Capital Inc. bought a new position in American Well during the 4th quarter valued at $134,000. 56.05% of the stock is owned by institutional investors and hedge funds.

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.