Amplitude (NASDAQ:AMPL) Price Target Cut to $9.00

Amplitude (NASDAQ:AMPL) had its price objective dropped by Morgan Stanley from $10.00 to $9.00 in a report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 1.32% from the stock’s current price.

Several other analysts also recently issued reports on AMPL. Scotiabank downgraded Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a report on Wednesday, February 21st. Piper Sandler restated a “neutral” rating and set a $11.00 price objective on shares of Amplitude in a report on Wednesday, February 21st. KeyCorp initiated coverage on Amplitude in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Citigroup dropped their target price on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Amplitude presently has an average rating of “Hold” and an average target price of $11.20.

Amplitude Trading Down 1.5 %

Shares of NASDAQ AMPL opened at $9.12 on Friday. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -12.49 and a beta of 1.36. The firm has a 50-day moving average of $10.42 and a two-hundred day moving average of $11.47.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $71.40 million for the quarter, compared to analyst estimates of $71.56 million. Amplitude had a negative return on equity of 26.09% and a negative net margin of 30.28%. As a group, research analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity

In related news, Director Catherine Wong sold 3,515 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $11.97, for a total value of $42,074.55. Following the transaction, the director now owns 86,335 shares in the company, valued at $1,033,429.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 28.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP acquired a new position in Amplitude in the fourth quarter worth approximately $2,197,000. Cerity Partners LLC acquired a new position in Amplitude in the fourth quarter worth approximately $1,310,000. Bank of New York Mellon Corp increased its holdings in Amplitude by 17.1% in the third quarter. Bank of New York Mellon Corp now owns 1,024,965 shares of the company’s stock worth $11,859,000 after buying an additional 149,397 shares during the last quarter. M&T Bank Corp acquired a new position in Amplitude in the third quarter worth approximately $409,000. Finally, Vanguard Group Inc. increased its holdings in Amplitude by 17.9% in the third quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock worth $89,526,000 after buying an additional 1,177,465 shares during 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.