American Well Corp
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Company profile

American Well Corporation is a telehealth company enabling digital delivery of care for the healthcare sector. The Amwell Platform is a digital care delivery solution that equips its health system and health plan, including government, clients with the tools to enable new models of care for their patients and members. Its technology embeds with its clients’ existing offerings and clinical workflows, spanning the continuum of care and enabling care delivery across a range of clinical, retail, school and home settings. The Amwell Platform consists of the home line, provider-to-patient telehealth interactions, typically in the home, and the hospital line, supporting provider-to-provider telehealth interactions, or provider-to-patient, typically in an inpatient or ambulatory setting. The Company offers a range of management software, clinical workflows, Carepoint hardware and system integrations to deliver care across various modalities, including video, phone and secure messaging.

Postmarket

Last Trade
Delayed
$29.11
-0.20 (-0.68%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$29.31
Day's Change
0.61 (2.13%)
Bid
--
Ask
--
B/A Size
--
Day's High
31.59
Day's Low
28.99
Volume
(Heavy Day)
Volume:
11,664,449

10-day average volume:
2,845,445
11,664,449

UPDATE: Crocs benefiting from stay-at-home shift, collaborations with Justin Bieber and other celebrities

8:39 am ET October 29, 2020 (MarketWatch)
Print

Tonya Garcia

Crocs Inc.'s (CROX) earnings reached record heights in the third quarter thanks to the stay-at-home shift caused by the coronavirus pandemic and marketing collaborations with a number of big-name celebrities.

The shoe manufacturer reported profit and revenue (https://www.marketwatch.com/story/crocs-shares-rise-after-record-earnings-report-2020-10-27?mod=mw_quote_news) that beat expectations and is guiding for 20% to 30% revenue growth in the fourth quarter.

Crocs stock has surged 44.3% over the past three months, and shares are up 28.7% for the year to date. The S&P 500 index is up just 1.3% for the period.

"Investors' top question is if the quarter represents the peak of the 'fad,'" wrote UBS in a note.

"We don't think so because in addition to fashion, the stay-at-home phenomenon and highly effective marketing are fueling Crocs and the benefits of these trends likely continue through 4Q. "

UBS rates Crocs stock neutral and raised its price target to $57 from $48.

Crocs has a number of star partnerships, including a special-edition glow-in-the-dark clog with Puerto Rican reggaeton artist Bad Bunny, which was released with the Finish Line chain of stores, and Justin Bieber and his fashion label Drew House. Both collaborations sold out quickly.

"Results again were led by strength in the Americas reflecting significant brand heat fueled by recent compelling collaborations, improved relationships with key retailers, and strong sales of Jibbitz (doubled year-over-year) which are a key driver of ASP gains and consumer interest," wrote Baird analysts.

Jibbitz are the charms that shoppers can add to their Crocs shoes.

"With increased confidence the brand is returning to ongoing +double-digit top-line growth, we expect Crocs to remain a relative winner given strong demonstrated brand momentum and a pivot to offense on product/marketing."

Baird rates Crocs shares outperform and raised its price target to $72 from $62.

"We think demand for Crocs will continue to exceed supply, which should lead to positive long-term sales and margin improvement," wrote Sam Poser at Susquehanna Financial Group.

"Support of frontline medical workers, ever-increasing personalization options, and successful collaborations have driven an increase in brand consideration, and this should lead to improved momentum in Crocs' clog and sandal businesses going into next year."

Susquehanna rates Crocs stock positive and raised its price target to $68 from $53.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 29, 2020 08:39 ET (12:39 GMT)

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