American Well (NYSE:AMWL) Issues Earnings Results

American Well (NYSE:AMWL) released its quarterly earnings results on Wednesday. The company reported ($3.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.94) by $0.58, Zacks reports. The firm had revenue of $62.79 million for the quarter, compared to the consensus estimate of $60.78 million. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. During the same period last year, the business posted ($4.60) EPS. American Well updated its FY 2024 guidance to EPS.

American Well Stock Performance

Shares of NYSE AMWL traded down $0.18 during midday trading on Friday, reaching $11.05. The stock had a trading volume of 403,569 shares, compared to its average volume of 214,594. American Well has a 12-month low of $5.00 and a 12-month high of $43.20. The stock has a 50-day moving average of $7.90 and a 200-day moving average of $13.71. The company has a market capitalization of $163.76 million, a price-to-earnings ratio of -0.45 and a beta of 1.03.

Wall Street Analysts Forecast Growth

AMWL has been the subject of several research reports. UBS Group reduced their price target on shares of American Well from $30.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Morgan Stanley cut their price objective on shares of American Well from $35.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Thursday.

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.