#4 - Amwell (NYSE:AMWL)
Telehealth has been another big mover in 2020. There are many good plays in this sector, and Amwell (NYSE: AMWL), formerly known as American Well, has been making some noise in the space. Amwell is similar to Teladoc Health (NYSE: TDOC) in that it is a health-care platform that remotely (via the internet) connects patients with doctors. Right now, the company exists as the lone pure-play in the sector.
AMWL stock went public in mid-September with an IPO price of $18. With a share price of nearly $34 per share, those investors have done quite well. But this may be a case of too far, too fast. The stock has grown nearly 100% before it’s ever had a chance to show investors anything.
One concern is that analysts are all over the map on Amwell stock. While some analysts remain bullish, others are suggesting a large move downward. There’s little doubt that a potential surge in new Covid-19 cases may be a bullish catalyst. But Amwell is one company in a sector that continues to grow. It seems like some prudence is in order.
About American Well
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.
Read More - Current Price
- $7.87
- Consensus Rating
- Hold
- Ratings Breakdown
- 0 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.50 (58.8% Upside)
