AMN Healthcare (AMN) provides healthcare workforce solutions and staffing; the stock is our latest upside breakout candidate, asserts Leo Fasciocco, editor of Ticker Tape Digest.
AMN provides staffing services at acute and sub-acute care hospitals and other healthcare facilities. The company's segments include nurse and allied solutions, locum tenens solutions and other workforce solutions.
Through its suite of solutions, AMN provides technology, analytics and services to manage its clients' healthcare workforce needs.
This year, analysts are forecasting a 9% rise in net to $3.48 a share from the $3.18 the prior year. The stock sells with a price-earnings ratio of 23.
We see good chances for an upside earnings surprise. The company beat the consensus the past four quarters by 11 cents a share, 8 cents, 7 cents and 6 cents.
Looking out to 2021, the Street predicts a 12% increase in net to $3.89 a share from the anticipated $3.48 this year.
AMN's long-term chart shows the stock climbing from $10 back in 2014 to a peak at $68 by 2018. It then went into a basing pattern and then broke out and ran up to $80 earlier this year.
The stock formed a flat base with one shake out to the downside. It rallied back strongly and now breaks out from its base with good volume.
The stock's momentum indicator is solidly bullish. We are targeting AMN for a move to $94 within the next few months, or sooner. A protective stop can be placed near $77.
