Amplitude (NASDAQ:AMPL) Price Target Cut to $10.00

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

Other equities analysts also recently issued research reports about the company. Citigroup decreased their target price on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Amplitude in a research report on Wednesday, February 21st. Scotiabank downgraded Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 21st. Finally, KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

Amplitude Stock Down 0.3 %

Shares of NASDAQ AMPL opened at $9.46 on Wednesday. The business’s 50 day moving average price is $11.45 and its two-hundred day moving average price is $11.56. The company has a market cap of $1.14 billion, a PE ratio of -12.13 and a beta of 1.36. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business 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 27.73% and a negative net margin of 32.71%. As a group, research analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $42,074.55. Following the sale, the director now owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amplitude

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Amplitude by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after purchasing an additional 105,616 shares during the last quarter. BlackRock Inc. lifted its stake in Amplitude by 21.2% during the second quarter. BlackRock Inc. now owns 4,612,285 shares of the company’s stock worth $50,735,000 after purchasing an additional 807,975 shares during the last quarter. FMR LLC lifted its stake in Amplitude by 15.1% during the third 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 during the last quarter. Sunriver Management LLC lifted its stake in Amplitude by 28.2% during the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock worth $28,529,000 after purchasing an additional 493,046 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Amplitude by 11.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,201,701 shares of the company’s stock worth $26,597,000 after purchasing an additional 234,478 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

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.