Amwell price target lowered to $8 from $10 at Piper Sandler

Piper Sandler lowered the firm’s price target on Amwell (AMWL) to $8 from $10 and keeps a Neutral rating on the shares following a positive Q1 print where the company beat revenue and adjusted EBITDA guidance and reaffirmed the 2025 outlook. As of early April, scheduled visits are live across the entire DHA; a considerable achievement delivered on time and on budget, the firm notes. DHA patient and provider satisfaction levels are running in excess of 90.0%. However, due to a leadership transition at the DHA, enterprise-wide deployments of automated programs and digital behavioral health planned for Q2 are expected to be delayed until Q3, Piper says.