Truist Financial Issues Positive Forecast for American Well (NYSE:AMWL) Stock Price

American Well (NYSE:AMWL) had its target price increased by Truist Financial from $10.00 to $12.00 in a research note released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

AMWL has been the topic of a number of other research reports. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Monday, January 13th. Stifel Nicolaus raised their price objective on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday. Finally, Morgan Stanley dropped their price objective 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, American Well currently has an average rating of “Hold” and an average target price of $11.90.

American Well Stock Up 3.7 %

Shares of AMWL stock opened at $12.17 on Friday. The company has a 50 day moving average price of $9.31 and a 200-day moving average price of $9.17. American Well has a 52 week low of $5.00 and a 52 week high of $29.00. The firm has a market capitalization of $186.37 million, a PE ratio of -0.83 and a beta of 1.18.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) EPS 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%. Analysts anticipate that American Well will post -13.38 earnings per share for the current year.

Hedge Funds Weigh In On American Well

A number of hedge funds have recently modified their holdings of AMWL. Takeda Pharmaceutical Co. Ltd. bought a new position in shares of American Well in the fourth quarter worth approximately $564,000. Senvest Management LLC boosted its position in shares of American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after purchasing an additional 48,800 shares during the period. HighTower Advisors LLC bought a new position in shares of American Well during the third quarter worth $355,000. Norges Bank bought a new position in shares of American Well during the fourth quarter worth $204,000. Finally, Walleye Capital LLC bought a new position in shares of American Well during the third quarter worth $167,000. 56.05% of the stock is currently owned by institutional investors.

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.