Why Is AMN HEALTHCARE SVCS (AMN) Stock Down Today?

AMN Healthcare shares fell 20.37% to $37.76 on Wednesday. The sharp decline followed the release of third-quarter results that significantly exceeded analyst expectations for both earnings and revenue.

What Happened

AMN Healthcare reported third-quarter revenue of $717.3 million, beating consensus estimates by $67.8 million. Adjusted EPS came in at $1.16, a substantial beat against the consensus estimate of $0.23. GAAP net income was $0.83 per share, and adjusted EBITDA reached $94 million. The company attributed the cash flow shift to client deposit refunds.

Management provided a fourth-quarter revenue guidance range of $655 million to $670 million, compared to the consensus estimate of $653.85 million. Following the release, BofA raised its price target to $34.50 from $28. Citizens raised its price target to $51 from $40 and maintained a Market Outperform rating. An 8-K filing disclosed the preliminary results and financial statements.

What The Data Shows

The stock opened at $47.80, a 0.8% gap up from the prior close of $47.42. The session high was $47.80 at 7:00 AM ET, while the session low reached $37.30 at 10:55 AM ET. Volume stood at 0.4 million shares, which is 0.5 times the three-month daily average.

Fundamentals show a market cap of $1.8 billion and a P/E ratio of 17.6. Revenue grew 24.0% on a trailing twelve-month basis, with a net margin of 3.1% and a beta of 0.45. The 52-week range is $14.97 to $49.62. The tape printed three fresh 52-week highs and 13 fresh 52-week lows on November 6, 2026.

What To Watch

Investors will monitor the company's upcoming earnings date and the broader coverage breadth as analysts adjust their models following the significant beat in third-quarter performance.