U.S. Markets close in 2 hrs 53 mins

American Well Corporation (AMWL)

NYSE - Nasdaq Real Time Price. Currency in USD
Add to watchlist
25.66-0.44 (-1.69%)
As of 1:07PM EST. Market open.
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close26.10
Bid25.62 x 900
Ask25.68 x 1000
Day's Range25.61 - 26.74
52 Week Range21.34 - 41.80
Avg. Volume3,886,083
Market Cap6.029B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • 3 Stocks Top Analysts Say Will Soar in 2021

    3 Stocks Top Analysts Say Will Soar in 2021

    Sentiment is on the rise as the annus horribilis 2020 winds to an end. There’s a feeling, after all we have been through over the past ten months, that things just can not get worse. And so, investors are looking forward to 2021.Two big factors in market uncertainty are on their way to resolving themselves. First, COVID-19 vaccines are in the works, and two major drug companies have announced that vaccines will be available in a matter of months. And second, Democrat Joe Biden will take office in the White House, with a strengthened GOP opposition in Congress. The prospect of relief from the coronavirus and a divided government unable to enact extreme or controversial measures promises us a degree of stability that will be welcome.A feeling of optimism and a perception that there are opportunities available, have Wall Street’s analysts tagging stocks for success. We’ve pulled up the TipRanks data on three stocks that high-rated analysts have tagged as potentially strong investments. These are buy-rated equities, with double-digit upside potential for the coming year.LendingTree, Inc. (TREE)First up is LendingTree, the online marketplace that connects borrowers and lenders. The company offers borrowers options to shop for competitive rates, loan terms, and various financing products. Among the offerings, from multiple financing sources, are credit cards, deposit accounts, and insurance products. LendingTree is based in North Carolina, with offices in New York, Chicago, and Seattle.In the third quarter, the company showed mixed fiscal results. Revenues were up sequentially, gaining 19% to reach $220 million – but earnings were down, both sequentially and year-over-year. At minus $1.33, the EPS was net-negative, and far below the year-ago quarter’s $1.70.Covering this stock for Needham, 5-star analyst Mayank Tandon – rated 66 overall out of more than 7,100 stock pros – is upbeat despite the recent turndown after the Q3 results. Tandon noted, “[We] remain positive on the shares of TREE LT as we believe that the company is well-positioned to generate strong and consistent revenue… Consumer revenue dropped 68% Y/Y as the pandemic constrained consumer credit originations, but trends improved on a sequential basis due to better personal loan volumes and a seasonal boost from the student loan business…""TREE's diversified portfolio of personal finance products and the strong secular trends driving the shift of personal finance advertising and shopping to digital channels will help the company achieve its LT growth targets,” the analyst concluded. To this end, Tandon rates TREE a Buy, and sets a $375 price target. At current levels, his target suggests a 44% upside for the stock in 2021. (To watch Tandon’s track record, click here)LendingTree has a unanimous Strong Buy analyst consensus rating, based on 6 Buy reviews set in recent week. The stock’s average price target, $362, implies it has room for 39% growth from the current share price of $260.09. (See TREE stock analysis on TipRanks)Allegro MicroSystems (ALGM)Allegro MicroSystems is a semiconductor company and fabless manufacturer of integrated circuits for sensor systems and analyst power technologies. The company’s products are used in the automotive and industrial sectors, and include solutions for developing electric vehicle control systems. Allegro’s circuit chips can also be found in data centers and green energy applications.Allegro is new to the stock markets, having held its IPO just this past October. The stock debuted at $14 per share, and the company put 25 million shares up for offer. In its first day of trading, it closed at more than $17 per share, grossing over $440 million for the IPO. Since then, ALGM has gained 35% in less than four weeks of trading.Vijay Rakesh, 5-star analyst with Mizuho, is clearly bullish on this newly public company.“We believe Allegro is leading the early stages of a multi-decade transformation in sensing, automotive electrification, and power distribution, with substantial upside from its industry leadership in magnetic sensors, a differentiated Power IC roadmap, and fabless operating model. Allegro's xMR sensors and power ICs drive technology platform leadership and enable better performance, accuracy, and control for the growing EV market and Industry 4.0 - key for next-generation electrified automotive powertrains, data centers, and factory automation,” Rakesh wrote.Along with his upbeat comments, Rakesh gives this stock a Buy rating and a $28 price target. His target implies an upside potential of ~17% for the next 12 months. (To watch Rakesh’s track record, click here)Overall, this chip maker is a Wall Street favorite. Out of 6 analysts polled in the last 3 months, all 6 are bullish on ALGM. With a return potential of ~18%, the stock's consensus target price stands at $28.29. (See ALGM stock analysis on TipRanks)American Well (AMWL)American Well, also called AmWell, connects patients, health care providers, and insurers to promote quality care outcomes in a digital world. The company boasts over 55 major insurers and more than 62,000 providers incorporating its service into their networks, giving access to more than 80 million potential patients.AmWell is another newcomer to the markets. This past September, the company held its IPO and raised more than $742 million. Over 41.2 million shares were sold, with the initial price of $18. This compared well to the 35 million shares and $14 to $16 price expected prior to the event. In its first quarter trading as a public company, AmWell reported several gains in key metrics. Revenue was up year-over-year, rising 80% to reach $62.6 million. The active provider total – more than 62,000 – represents a 930% increase in the past year, and shows strong growth for the company. And the company registered over 1.4 million patient visits during the quarter, a 450% increase from the year-ago quarter.Piper Sandler’s 5-star analyst Sean Wieland notes the importance of network growth for AMWL, writing in his note on the stock: “62K providers are using the AMWL Network, up almost 10x from a year ago. The increase was driven primarily by providers employed by, or affiliated with, AMWL's health systems and payor clients… As the number of providers on the network grows, so does the value of the network; network expansion makes it easier for patients to find the right provider and for providers to find the right patient.”Wieland rates AMWL an Overweight (i.e. Buy), and his $44 price target indicates his confidence in an upside of 78% for the next 12 months. (To watch Wieland’s track record, click here)All in all, AMWL's Moderate Buy consensus rating is based on 8 reviews, including 5 Buys and 3 Holds. The shares are selling for $24.71 and their average price target, at $35.86, represents a 45% upside potential. (See AMWL stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Top New Buys of Ron Baron's Firm

    Top New Buys of Ron Baron's Firm

    Baron Funds invests in tech and health care IPOs during the third quarter

  • How a Second Wave May Offer a ‘Mulligan’ for American Well Stock

    How a Second Wave May Offer a ‘Mulligan’ for American Well Stock

    One of the hottest — though somewhat underappreciated — initial public offerings (IPOs) this year has been American Well (NYSE:AMWL).  At the onset of the pandemic, few people wanted to venture out, let alone go to healthcare facilities. But, naturally the demand for medical consultations didn’t disappear during an international emergency. That’s when the telehealth industry stepped in, bolstering the case for American Well stock. Source: Stephanie L Sanchez / Shutterstock.com Out of the gate, AMWL has stormed higher since debuting around mid-September. But since hitting a peak of almost $42 on Oct. 7, the company has been trending inside a declining bearish channel. Much of that has to do with timing. Unlike its publicly traded rivals, the stock entered into the space after people became acclimated to the new normal. Still, I would take advantage of any discounted opportunities. American Well Stock and Covid-19 For one thing, it’s possible that American Well stock could become a buyout target.InvestorPlace - Stock Market News, Stock Advice & Trading Tips To be clear, I wouldn’t buy shares based on such a rumor. Nevertheless, the fact that this speculation exists points to the highly relevant business that underlines AMWL. As I’ll explain later, the bullish case will likely increase through this pandemic — and beyond it. More importantly, we should recognize that — while Americans have gotten used to Covid-19 — we’re not out of the woods yet. There’s still much that we don’t know about the novel coronavirus. The only thing we know for sure is that close contact with the infected is an incredibly high risk factor. 7 Airline Stocks to Buy on Pelosi Stimulus Hopes According to The Lancet, a peer-reviewed medical journal, frontline healthcare workers “had at least a threefold increased risk” of contracting Covid-19. However, “adequate availability of PPE [personal protective equipment] did not seem to completely reduce risk among health-care workers” providing care for novel coronavirus patients. If I’m interpreting the scientific data correctly, your best chance of avoiding Covid-19 is to stay away from high-risk transmission areas. Logically, this benefits American Well stock because its telemedicine business serves a great need via its contactless platform. A Second Wave Is a ‘Mulligan’ for AMWL Despite the immediate tailwinds for AMWL, it’s also fair to wonder if the pandemic will still provide upside for the telehealth company. At some point, this crisis will fade, which may pose a risk to shares. But something that White House health advisor Dr. Anthony Fauci said makes me believe that American Well stock can continue to ride the novel coronavirus narrative. Last month, Fauci recommended that “we need to hunker down and get through this fall and winter because it’s not going to be easy.” Moreover, CNBC reported the following: “Fauci noted that while new Covid-19 cases have decreased to less than 40,000 cases per day in the U.S. (a 16% decrease from two weeks ago, according to a New York Times database), that number is still ‘an unacceptably baseline,’ he said. “’We’ve got to get it down, I’d like to see it 10,000 or less, hopefully less,’ he added.” The problem is that the data from the Centers for Disease Control and Prevention says that the seven-day moving average at time of writing is over 59,000 cases. Not only are we not meeting Fauci’s threshold goal — we’re nearly six-fold above it. Off of this data, you can see why investors should still be considering American Well, despite being late to the game. Additionally, we should look at Europe. The Wall Street Journal reported that Covid-19 cases are accelerating there as well, causing hospitals to ramp up their preparation for the winter. More than likely, the U.S. healthcare system will have to do the same. All told, it’s completely possible that we could see an even worse second wave. And if so — as cynical and dark as it may be — that only helps the case for AMWL and investors who are thinking about jumping in. Not All Doom and Gloom That being said, it’s important to realize that the perniciousness of this crisis will not be a permanent circumstance. Yes, there is a possibility that the novel coronavirus could become endemic, meaning a vaccine might not be enough to stop it entirely. But even so, I trust the resilience of the global community as well as my fellow Americans. In some way, shape or form, we’ll find a way to address this threat. In that case, what happens to American Well stock? The way I see it, AMWL will still be relevant post-pandemic. In fact, one of the selling points for the telehealth industry is its ability to provide convenience and comfort to patients. For instance, NBCNews.com reported that iatrophobia — or the fear of doctors — “affects just 3 percent of the population.” That may seem small, but 3% of the U.S. population is roughly 10 million people. That’s a sizable consumer base that American Well can reach. And that’s what we know on paper. In reality, I’d be willing to bet that millions more have some form of iatrophobia. Or even, just prefer the convenience. That only adds to American Well’s addressable market. Therefore, whether you get into AMWL for the pandemic or for the new normal, this is a relevant buy. Be sure to take advantage of any dips along the way. On the date of publication, neither Matt McCall nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. Matthew McCall left Wall Street to actually help investors –by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company The post How a Second Wave May Offer a ‘Mulligan’ for American Well Stock appeared first on InvestorPlace.