AMN Healthcare (AMN) provides healthcare workforce solutions and staffing; the stock is our latest upside breakout candidate, asserts Leo Fasciocco, editor of Ticker Tape Digest.
AMN provides staffing services at acute and sub-acute care hospitals and other healthcare facilities. The company's segments include nurse and allied solutions, locum tenens solutions and other workforce solutions.
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Through its suite of solutions, AMN provides technology, analytics and services to manage its clients' healthcare workforce needs.
This year, analysts are forecasting a 9% rise in net to $3.48 a share from the $3.18 the prior year. The stock sells with a price-earnings ratio of 23.
We see good chances for an upside earnings surprise. The company beat the consensus the past four quarters by 11 cents a share, 8 cents, 7 cents and 6 cents.
Looking out to 2021, the Street predicts a 12% increase in net to $3.89 a share from the anticipated $3.48 this year.
AMN's long-term chart shows the stock climbing from $10 back in 2014 to a peak at $68 by 2018. It then went into a basing pattern and then broke out and ran up to $80 earlier this year.
The stock formed a flat base with one shake out to the downside. It rallied back strongly and now breaks out from its base with good volume.
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The stock's momentum indicator is solidly bullish. We are targeting AMN for a move to $94 within the next few months, or sooner. A protective stop can be placed near $77.
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