American Well (NYSE:AMWL) Given New $12.00 Price Target at Truist Financial

American Well (NYSE:AMWL) had its price objective raised by analysts at Truist Financial from $10.00 to $12.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 3.54% from the company’s current price.

AMWL has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Thursday. Wells Fargo & Company raised American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Monday, January 13th. Morgan Stanley lowered their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus raised their price objective on American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.90.

American Well Price Performance

Shares of AMWL traded down $0.14 on Friday, reaching $11.59. 35,508 shares of the stock traded hands, compared to its average volume of 62,263. The firm has a market cap of $177.56 million, a price-to-earnings ratio of -0.79 and a beta of 1.18. The stock’s 50-day moving average price is $9.26 and its 200-day moving average price is $9.14. American Well has a 12 month low of $5.00 and a 12 month high of $29.00.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, beating analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. As a group, equities research analysts forecast that American Well will post -13.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMWL. Senvest Management LLC increased its holdings in shares of American Well by 3.9% during the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock valued at $9,429,000 after acquiring an additional 48,800 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Well by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock valued at $1,073,000 after acquiring an additional 922 shares during the period. Norges Bank purchased a new stake in shares of American Well during the fourth quarter worth $204,000. Takeda Pharmaceutical Co. Ltd. bought a new position in shares of American Well in the fourth quarter worth $564,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of American Well in the fourth quarter valued at $45,000. 56.05% of the stock is 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.