
AMN Stock Forecast & Price Target
AMN Analyst Ratings
Bulls say
AMN Healthcare Services is viewed favorably because its core Nurse and Allied business is stabilizing, with a return to volume growth for the first time since 2022, bill rates improving 6% year over year, and average hours rising sequentially, while labor disruption revenue of $722M in Q1 far exceeded expectations. The company also delivered strong operating execution, with Q1 revenue and EBITDA beating consensus by 12% and 35%, gross margin expanding to 25.1% in Nurse and Allied and consolidated adjusted EBITDA margin reaching 12.1%, suggesting meaningful operating leverage as demand normalizes. Its balance sheet remains manageable with net leverage at 1.6x and a target of 2.0x or less across the balance of 2026, while international nursing recovery and tuck-in acquisitions in Q2 add further support to a path toward double-digit EBITDA growth.
Bears say
AMN Healthcare Services is facing weakening fundamentals across its core staffing businesses, with Physician and Leadership revenue down 6% to $164M as locum tenens revenue fell 7% Y/Y, days declined 9%, and segment gross margin compressed 120 bps Y/Y to 26.1%. Technology and Workforce revenue dropped 15% Y/Y to $87M, and despite a 50% gross margin, continued softness in language services and VMS software plus management’s Q2 outlook for revenue flat to down 2% Y/Y point to sustained demand deterioration. The broader thesis is further pressured by organic revenue turning from +9% in 2024 to -4% in 2025, an expected another -4% in 2026, and nearly $1B of debt against declining revenue, while VMS revenue has fallen at a (35%) CAGR from 2022 to 2025 amid secular pressure on contract labor.
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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AMN Analyst Forecast & Price Prediction
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