One-Sentence Summary of Key Findings: Amwell is a Boston-based telehealth platform provider founded in 2006 that has experienced extreme stock volatility since its 2020 IPO, with strong recent YTD performance amid ongoing operational losses, a consensus "Hold" analyst rating, and customer concentration risks in the competitive hybrid care market.
AMWL stock has shown extreme volatility since its September 2020 IPO, with an all-time high closing price of approximately 856 (noting potential adjustments or splits in historical data) in January 2021, followed by substantial declines through 2024-2025, and a notable recovery in 2026 with strong year-to-date gains exceeding 120% in some reports, outperforming the S&P 500 significantly on a trailing basis.[[1]](https://www.macrotrends.net/stocks/charts/AMWL/american-well/stock-price-history)[[2]](https://finance.yahoo.com/quote/AMWL/)
Interpretation: The post-IPO crash reflects broader telehealth sector normalization after pandemic highs, while the 2026 rebound may signal renewed investor interest in hybrid care or operational improvements, though sustainability is uncertain.
Uncertainty/Limitation: Historical prices may reflect corporate actions like reverse splits (common in micro-caps); exact adjusted figures require verification from official sources. Performance data is trailing and does not predict future results. Data as of mid-2026.
More information: Macrotrends Stock Price History | Yahoo Finance AMWL
TTM Revenue: $237.38 million | Net Income (TTM): -$87.88 million | Diluted EPS (TTM): -$5.43 | Gross Margin (recent): ~51-53% | Profit Margin: -37.02% | ROA (TTM): -13.43% | ROE (TTM): -31.84%. Cash position strong at ~$180 million with minimal debt (Total Debt/Equity ~1.65%). Q1 2026 Revenue: $54.88 million (beat estimates); Net loss narrowed significantly vs. prior year.[[3]](https://sg.finance.yahoo.com/quote/AMWL/)[[4]](https://www.stocktitan.net/overview/AMWL/)[[5]](https://investors.amwell.com/static-files/d5ad6b5f-0742-4969-b270-9f90584dc2e2)
| Metric | TTM / Latest | Notes |
|---|---|---|
| Revenue (TTM) | $237.38M | Primarily from platform subscriptions, visits, and services |
| Net Income (TTM) | -$87.88M | Ongoing losses typical for growth-stage health tech |
| EPS (TTM) | -$5.43 | Fact; Q1 2026 beat consensus |
| Cash (mrq) | ~$180M | Strong liquidity position |
| Market Cap | ~$183M - $221M range | Micro-cap classification |
Interpretation: Improving cost controls evident in narrower Q1 2026 losses and better EBITDA, but persistent unprofitability highlights execution risks in scaling the platform amid competition and replatforming efforts (e.g., Converge).
Uncertainty/Limitation: Financials are trailing twelve months or latest quarterly (Q1 2026 reported May 2026); full FY 2026 guidance was previously provided but subject to updates. Assumptions include standard GAAP reporting; forward-looking estimates carry high uncertainty due to customer concentration and market dynamics. Data sourced from public filings and aggregators as of July 2026.
More information: Amwell Investor Relations | Yahoo Finance Financials | WSJ Financial Statements
Consensus Rating: Hold (based on 5-8 analysts over the past 12 months). Breakdown: Typically 1 Buy, 3+ Hold, 1 Sell in recent aggregates. Average 12-month price target: ~$7.20 - $7.57 (range $5.00 low to $9.00 high; one recent outlier higher). Recent actions include maintains from TD Cowen (Hold), Morgan Stanley (Hold), Stifel (Hold), and Wells Fargo (Overweight, raised target).[[6]](https://www.marketbeat.com/stocks/NYSE/AMWL/forecast/)[[7]](https://www.benzinga.com/quote/AMWL/analyst-ratings)
| Analyst / Firm | Rating | Target Price | Date (approx.) |
|---|---|---|---|
| Consensus (multiple) | Hold | $7.20-$7.57 avg | Recent 2026 |
| Wells Fargo | Overweight | $9.00 (raised) | Nov 2025 / later |
| TD Cowen | Hold | $8.00 | May 2026 |
| Morgan Stanley | Hold | $6.50 | May 2026 |
| Stifel | Hold | $5.00-$6.50 | 2026 |
| Truist | Hold | $7.50 | Jun 2026 |
Interpretation: Analysts generally see limited near-term upside or balanced risk/reward, citing progress on costs but challenges with visibility, customer renewals (e.g., DHA concerns noted in some reports), and replatforming.
Uncertainty/Limitation: Ratings and targets are snapshots and can change rapidly with new earnings or news; price targets imply potential downside from then-current levels but are not guarantees. Limited analyst coverage for micro-cap. Data as of July 2026; always verify latest on sites like MarketBeat or company IR.
More information: MarketBeat AMWL Forecast | Amwell Analyst Coverage
Serves providers, payers (including ~50 health plans representing >80 million covered lives), government, and higher education sector. Notable: One major payer (Elevance Health) accounted for ~24% of 2023 revenue (concentration risk). Powers digital care for many large U.S. health systems (~80 mentioned). Amwell Medical Group supports ~2,200 active providers. Examples of programs: Behavioral health (SilverCloud), chronic care, virtual primary/urgent care.[[8]](https://investors.amwell.com/static-files/6bac2800-cb55-4910-94c6-d35634b79f9b)[[9]](https://business.amwell.com/)
Interpretation: Broad but concentrated customer base provides scale yet exposes revenue to key client decisions or contract renewals.
Uncertainty/Limitation: Exact current customer list not fully disclosed publicly beyond aggregates; concentration data from 2023/2024 filings may have shifted. Limited visibility into retention rates post-replatforming.
More information: Amwell Business Site | IR Presentations
Operates in telehealth/hybrid care platform space, competing with dedicated telehealth firms, EHR vendors, and tech giants. Primary peer often cited: Teladoc Health (TDOC). Others include VSee Lab, CirrusMD, Caregility, plus broader players like Epic (EHR integration), Microsoft, Amazon. Market comparisons sometimes include companies like i3 Verticals or Phreesia in health tech/services.[[10]](https://www.cbinsights.com/company/american-well/alternatives-competitors)[[11]](https://www.tradingview.com/news/tradingview:4acc7ca008dca:0-american-well-corp-sec-10-k-report/)
| Competitor | Focus | Notes |
|---|---|---|
| Teladoc Health (TDOC) | Telehealth platform & services | Direct peer; larger scale |
| VSee Lab, CirrusMD, Caregility | Virtual care solutions | Specialized telehealth alternatives |
| Epic Systems | EHR / integrated care | Workflow competition |
| Microsoft, Amazon | Tech-enabled health platforms | Enterprise competition |
| Others (e.g., Wheel, Fabric Health) | Virtual care / staffing | Niche or complementary |
Interpretation: Amwell differentiates via comprehensive hybrid care enablement (platform + devices + services) but faces pressure from larger players with deeper pockets or integrated ecosystems.
Uncertainty/Limitation: Competitive landscape evolves quickly with M&A and new entrants; market share data not precisely quantified in public sources. Comparisons are qualitative.
More information: MarketBeat Competitors | CB Insights Alternatives
Limitation: News is time-sensitive; check IR site for latest releases post-July 2026.
More information: Amwell News Releases