Amplitude (NASDAQ:AMPL) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Amplitude (NASDAQ:AMPL) had its price target dropped by analysts at Morgan Stanley from $12.00 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 5.71% from the company’s current price.

A number of other research firms have also recently weighed in on AMPL. Citigroup lowered their price target on shares of Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Scotiabank lowered shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 21st. KeyCorp assumed coverage on shares of Amplitude in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, Amplitude presently has a consensus rating of “Hold” and an average target price of $11.50.

Amplitude Price Performance

Shares of Amplitude stock opened at $9.46 on Wednesday. The firm’s fifty day simple moving average is $11.45 and its 200-day simple moving average is $11.56. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -12.13 and a beta of 1.36. Amplitude has a 12 month low of $8.50 and a 12 month high of $14.42.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. Analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the transaction, the director now owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 28.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Amplitude by 17.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,024,965 shares of the company’s stock valued at $11,859,000 after acquiring an additional 149,397 shares during the last quarter. M&T Bank Corp acquired a new stake in Amplitude during the 3rd quarter worth approximately $409,000. Vanguard Group Inc. increased its position in Amplitude by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock worth $89,526,000 after purchasing an additional 1,177,465 shares in the last quarter. Algert Global LLC increased its position in Amplitude by 41.0% during the 3rd quarter. Algert Global LLC now owns 203,367 shares of the company’s stock worth $2,353,000 after purchasing an additional 59,177 shares in the last quarter. Finally, FMR LLC increased its position in Amplitude by 15.1% during the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company’s stock worth $34,122,000 after purchasing an additional 386,413 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Company Profile

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.