American Well (NYSE:AMWL) Announces Earnings Results

American Well (NYSE:AMWL) released its earnings results on Wednesday. The company reported ($2.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.04) by $0.27, Zacks reports. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%.

American Well Price Performance

American Well stock traded up $0.70 during mid-day trading on Wednesday, hitting $12.17. 198,913 shares of the company’s stock traded hands, compared to its average volume of 59,669. The firm has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $9.10. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $29.00. The stock has a market cap of $186.44 million, a price-to-earnings ratio of -0.83 and a beta of 1.18.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMWL. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Thursday, October 31st. Wells Fargo & Company upgraded shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley reduced their price objective on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th.

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.