Reading AMWL? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track AMWL free→
American Well Corp (AMWL)
NYSEHealth CareHealth Information ServicesSnapshot 2026-06-15
Watch· this week
$8.71-4.34%
Close 2026-06-15 · 1-day change
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
The bottom line
Recent financial performance is neutral. Earnings quality cannot be assessed since the company was unprofitable over the past year. Management's recent track record has been steady. Risk is low, but the sector backdrop is a headwind. Peer multiples imply a price about 65% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk. This pattern often occurs when financials are weak or earnings quality is fragile. The read is provisional.
as of 2026-06-15
Quick facts
- Exchange
- NYSE
- Sector
- Health Care
- Industry
- Health Information Services
- Market cap
- $152.21M
- Employees
- —
- IPO date
- 2020-08-24
- Next earnings
- 2026-08-04
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 1 valuation methods, at three horizons. Current price $8.71. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$24.77consensus
Range $24.77 – $24.77
vs price: -65% below
Method agreement — · 1 method
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$22.89consensus
Range $22.89 – $22.89
vs price: -62% below
Method agreement — · 1 method
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $8.71 AMWL trades at 1× p/s, below its 2× p/s peer median. Our $25 fair value sits above the price; low confidence. Not investment advice.
Multiple (P/S)
0.6x
peer 1.7x · own history —
Premium
0.4x peer
Growth the price needs
-65%
our forecast -11%
Our fair value
$24.77
range $24.77 – $24.77
WhyEarnings too small for P/EPeer anchor overstates the discount
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivecheap — value-trap risk12-month view
What's priced inJustified
The price implies about 65% below a flat-multiple fair value, below our forecast of about -11%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
45th pctl · Health Care
Earnings quality
loss makingOver the trailing year it converted 0.48x of net income into operating cash flow.
Macro sensitivity
Not enough signal yet.
Management & capital allocation
stable3 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated stable grew net income 56% of the time over the next year (vs 52% for the rest of the cohort, n=618).
85th pctl · Health Care
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
BullishEPS revised +22.1% / 30d, n=1for period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $-0.77 → $-0.60 (+22.1% / 30d). 1 raised, 0 cut, 1 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d. 14% of analysts rate Buy.
Price target activity
1 PT revisions / 30d. Avg target -13.0% above current price.
Sector context
Intermediate · Weeklyheadwind-9.9%sector vs S&P 500, 60d
via XLV
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutral
- Capital allocation
- neutral
- Earnings discipline
- strong
- Margin discipline
- weak
- Balance sheet
- strong
- Post-call reaction
- weak
A guidance track record builds as the company issues and delivers on guidance.
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
Not enough price history for this read.
How much price usually moves either way.
Not enough price history for this read.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $486.
Deepest peak-to-trough drop in the last year.
lowas of 2026-06-15
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- Either wayHigh confidenceMonthsactive 4d
Watch for American Well's earnings on August 4
Why it matters: Earnings results will provide insight into financial health and growth prospects. Investors will be looking for signs of improvement.
What confirms / what disproves
Confirms one read:Earnings report shows a positive surprise in revenue or earnings per share.
Confirms the other:Earnings report shows a negative surprise in revenue or earnings per share.
Sector context
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for AMWL yet.
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like VEEV, BTSG, and TEM keep beating earnings and guiding higher, the Healthcare sector momentum should keep lifting AMWL and other Healthcare names. Worth watching these names for early signals.
- If AMWL raises forward guidance on the next earnings call (currently REAFFIRMED as of 2026-05-05), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
- If AMWL beats again next quarter like it did this past one (a big beat of +44% on the 2026-03-31 print), the momentum tends to extend, with Street estimates ratcheting up and the stock typically following.
Downside triggers
- If AMWL cuts guidance on the next call (currently REAFFIRMED as of 2026-05-05), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like VEEV, BTSG, and TEM start missing or guiding lower, the Healthcare tailwind helping AMWL and other Healthcare names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-051mo agoItem 2.02
Results of Operations and Financial Condition. On May 5, 2026, American Well Corporation (the "Company") announced its financial results for the fiscal quarter ended March 31, 2026. The Company's Earnings Report is furnished as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein. The Company will host a conference call to discuss its financial results today at 5 p.m. ET. The call can be accessed via a live audio webcast at https://edge.media-server.com/mmc/p/b826q95x/. A web…
Earnings preannouncementpositive
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
About the same as last weeklatest as of 2026-06-15
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.