Amplitude (NASDAQ:AMPL) Lowered to “Hold” Rating by Wall Street Zen

Amplitude (NASDAQ:AMPL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other research firms also recently weighed in on AMPL. Robert W. Baird dropped their price target on shares of Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. DA Davidson decreased their price objective on shares of Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Scotiabank decreased their price objective on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Benchmark reissued a “buy” rating on shares of Amplitude in a research note on Friday, July 11th. Finally, Morgan Stanley lifted their price objective on shares of Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Amplitude Stock Down 1.9%

Shares of AMPL stock opened at $12.59 on Friday. The firm has a 50 day moving average price of $12.34 and a two-hundred day moving average price of $11.39. The company has a market capitalization of $1.24 billion, a PE ratio of -16.57 and a beta of 1.54. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.88.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. The business had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts expect that Amplitude will post -0.62 EPS for the current year.

Insiders Place Their Bets

In related news, Director Erica Schultz sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $12.56, for a total value of $94,200.00. Following the sale, the director owned 107,406 shares of the company’s stock, valued at $1,349,019.36. The trade was a 6.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total transaction of $253,750.00. Following the completion of the sale, the director directly owned 261,859 shares in the company, valued at approximately $2,657,868.85. This represents a 8.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,911 shares of company stock valued at $825,102. 23.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new position in shares of Amplitude during the first quarter valued at about $20,292,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after purchasing an additional 770,227 shares during the period. Sunriver Management LLC raised its holdings in shares of Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after purchasing an additional 737,600 shares during the period. Meros Investment Management LP raised its holdings in shares of Amplitude by 4,682.9% during the first quarter. Meros Investment Management LP now owns 462,314 shares of the company’s stock valued at $4,711,000 after purchasing an additional 452,648 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 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.