Amplitude (NASDAQ:AMPL) Given New $24.00 Price Target at KeyCorp

Amplitude (NASDAQ:AMPLGet Rating) had its price objective reduced by analysts at KeyCorp from $32.00 to $24.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 27.52% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Citigroup reduced their target price on shares of Amplitude from $80.00 to $60.00 in a research note on Friday, February 11th. Robert W. Baird reduced their target price on shares of Amplitude from $75.00 to $40.00 in a research note on Thursday, February 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $57.83.

NASDAQ AMPL opened at $18.82 on Monday. Amplitude has a one year low of $15.17 and a one year high of $87.98. The company has a 50-day simple moving average of $19.98 and a 200-day simple moving average of $43.53.

Amplitude (NASDAQ:AMPLGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. The business had revenue of $49.40 million during the quarter, compared to analyst estimates of $46.95 million. The firm’s revenue was up 64.1% on a year-over-year basis. Equities analysts forecast that Amplitude will post -0.44 EPS for the current year.

In other news, major shareholder Us (Ttgp) Ltd. Sc bought 552,532 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average cost of $20.30 per share, with a total value of $11,216,399.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick W. Grady bought 186,217 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The stock was purchased at an average cost of $20.51 per share, for a total transaction of $3,819,310.67. The disclosure for this purchase can be found here. Insiders purchased a total of 2,563,748 shares of company stock worth $49,947,941 over the last quarter. Insiders own 63.43% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AMPL. Battery Management Corp. purchased a new position in Amplitude during the third quarter valued at approximately $759,925,000. Lone Pine Capital LLC bought a new stake in Amplitude in the third quarter worth approximately $88,411,000. Matrix Capital Management Company LP grew its position in Amplitude by 543.0% in the fourth quarter. Matrix Capital Management Company LP now owns 1,607,400 shares of the company’s stock worth $85,096,000 after acquiring an additional 1,357,400 shares in the last quarter. Anatole Investment Management Ltd grew its position in Amplitude by 182.1% in the fourth quarter. Anatole Investment Management Ltd now owns 2,041,390 shares of the company’s stock worth $108,071,000 after acquiring an additional 1,317,690 shares in the last quarter. Finally, West Rim Capital Associates II L.P. bought a new stake in Amplitude in the fourth quarter worth approximately $63,392,000. 64.18% of the stock is currently owned by hedge funds and other institutional investors.

Amplitude Company Profile (Get Rating)

Amplitude, Inc provides a digital optimization system to analyze customer behavior within digital products in the United States and internationally. It offers Amplitude analytics for insights of customer behavior; Amplitude Recommend, a no-code personalization solution that helps to increase customer engagement by adapting digital products and campaigns to every user based on behavior; Amplitude Experiment, an integrated solution that enables teams to determine and deliver the product experiences for their customers through A/B tests and controlled feature releases; Amplitude Behavioral Graph, a proprietary database for deep, real-time interactive behavioral analysis, and behavior-driven personalization – instantly joining, analyzing, and correlating any customer actions to outcomes, such as engagement, growth, and loyalty; and data management, a real-time data layer for planning, integrating, and managing data sources to create a foundation with identity resolution, enterprise-level security, and privacy solutions.

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