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AMN Healthcare Services Inc

AMN Healthcare Services Inc

AMN
$35.00USD↑+2.28%+0.78 today

MARKET CAP

1.4B

P/E (TTM)

11.6x

FWD P/E

41.0x

DAY RANGE

$33 – $36

52W RANGE

$15
$36

AI Summary

Stalk
StalkMedium

AMN remains in a Stage 2 advance with clear higher highs and rising EMAs supported by an active Parabola, but price is extended above short-term EMAs and in extreme overbought territory. Medium-term bias stays bullish, anchored by trend acceleration, while the long-term trend remains down. Short-term timing is unfavorable for new entries; defer execution and stalk pullbacks into the rising EMA zone for a better risk–reward.

  • ↑Q1 revenue $1.38B (+53% YoY), exceeded guidance by $122M, led by $722M labor disruption events
  • ↑AI integration via AMN Passport raises fill rates and operational efficiency
  • ↓Q1 gross margin 26.8% (-190 bps YoY), profitability score remains negative
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

AMN Healthcare, Inc. (NYSE: AMN) is a leading provider of healthcare workforce solutions specializing in staffing services across nursing, allied healthcare professionals, and technology solutions. The company plays a critical role in the healthcare delivery landscape, particularly in resource management during staffing shortages and healthcare disruptions. AMN's extensive network and technology-driven platforms enable it to meet urgent staffing needs effectively, particularly in an environment characterized by fluctuating demand and ongoing labor shortages.

Bull says

  • ↑Q1 revenue $1.38B (+53% YoY), exceeded guidance by $122M, led by $722M labor disruption events
  • ↑AI integration via AMN Passport raises fill rates and operational efficiency
  • ↑International staffing to grow mid-teens % in 2026 as visa conditions improve
  • ↑Operating cash flow $562M in Q1, strong liquidity supports growth
  • ↑Balance sheet quality high (QS score 2.95), leverage modest at 1.6x debt/EBITDA
  • ↑Deepened client ties through five labor disruption events boosts retention

Bear says

  • ↓Q1 gross margin 26.8% (-190 bps YoY), profitability score remains negative
  • ↓$722M labor disruption revenue is volatile and hard to forecast
  • ↓Intense staffing competition drives pricing pressure and margin erosion
  • ↓Negative momentum and earnings yield factors signal weak investor sentiment
  • ↓Growth factor concerns suggest stock may be fully valued
  • ↓Elevated short interest indicates market skepticism

Investment themes with AMN

Health Care Providers↓ -0.61%

UNH · CVS · HCA

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-10-2026neutral

Transcript signals

Bull points

  • For the first quarter, AMN delivered revenue of $1.38 billion, above our guidance range and consensus.
  • Gross margin was 26.8%, well above our guidance range.
  • The first quarter included $722 million in labor disruption revenue and $656 million in revenue from all other AMN businesses.

Bear points

  • For the second quarter, we expect Nurse and Allied Solutions revenue to be flat to down 2% year over year, including a normalization of the segment bill rate.
  • First quarter revenue for Physician and Leadership Solutions was $164 million, lower by 6% year-over-year. Locum Tenant's volume was down 9% year-over-year.
  • For the second quarter, we expect technology and workforce solutions revenue to be down approximately 14% to 16% year-over-year, which implies an improved sequential trend compared with the past two quarters.
Read full transcript analysis ›