
AMN Stock Forecast & Price Target
AMN Analyst Ratings
Bulls say
AMN Healthcare Services is positioned for a constructive recovery as its core Nurse and Allied business shows the first return to volume growth since 2022, with Q1 excluding labor disruption and rapid response revenue up 5% sequentially and bill rates beginning to rise. The company also beat expectations with Q1 revenue of $1,378M and adjusted EBITDA of $166M, while margins expanded to 12.1% and net leverage improved to 1.6x, supported by $555M of Q1 cash flow and $561M of cash. Management’s outlook for stabilization in 2026 and a return to normalized mid-single-digit revenue growth and double-digit EBITDA growth by 2027, plus improving international nursing and language services margins, supports a favorable fundamental view.
Bears say
AMN Healthcare Services is facing weakening fundamentals as Physician and Leadership revenue fell 6% to $164M, locum tenens revenue dropped 7% Y/Y, and segment gross margin compressed 120 bps Y/Y to 26.1%, signaling soft demand and poorer mix. The larger Nurse and Allied business has also lost momentum, with organic revenue down 4% in 2025 and projected to decline another 4% in 2026, while days filled are expected to fall 9% and VMS revenue has already collapsed at a (35%) CAGR between 2022 and 2025. Heavy dependence on Kaiser Permanente, which represented 22% of consolidated revenue, combined with nearly $1B of debt and declining contract labor demand, increases downside risk to profitability and financial flexibility.
This aggregate rating is based on analysts' research of AMN Healthcare Services and is not a guaranteed prediction by Public.com or investment advice.
AMN Analyst Forecast & Price Prediction
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