American Well (NYSE:AMWL) Releases Earnings Results, Beats Estimates By $0.27 EPS

American Well (NYSE:AMWL) announced 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 net margin of 84.27% and a negative return on equity of 52.49%.

American Well Trading Up 6.1 %

AMWL stock traded up $0.70 during trading on Wednesday, hitting $12.17. 198,913 shares of the stock traded hands, compared to its average volume of 59,669. American Well has a one year low of $5.00 and a one year high of $29.00. The company has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $9.10. The stock has a market cap of $186.44 million, a price-to-earnings ratio of -0.83 and a beta of 1.18.

Analysts Set New Price Targets

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

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.