Analysts at Berenberg Bank provided their outlook on American Well Corporation (NYSE:AMWL) following the recent Q3 earnings report, with a top-line miss and step-down in the FY revenue outlook.

For investors with longer time horizons, the analysts see this as a buying opportunity. The central tenet of their thesis – the company becoming a key component of the healthcare IT spine market – seems to be moving forward. This is evidenced by ongoing increases in average annual contract values which signify a growing value proposition for the user base in the Subscription business. Moreover, this comes with a key growth driver, Converge, which is still in the early stages of a roll-out.