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

Amplitude (NASDAQ:AMPL) had its price target decreased by Morgan Stanley from $12.00 to $10.00 in a report published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

AMPL has been the subject of several other research reports. Scotiabank lowered Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price objective for the company. in a report on Wednesday, February 21st. KeyCorp began coverage on shares of Amplitude in a report on Thursday, March 21st. They issued a sector weight rating for the company. Piper Sandler reaffirmed a neutral rating and issued a $11.00 price objective on shares of Amplitude in a research note on Wednesday, February 21st. Finally, Citigroup decreased their price target on shares of Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $11.50.

Amplitude Stock Performance

Amplitude stock opened at $9.46 on Wednesday. Amplitude has a 52 week low of $8.50 and a 52 week high of $14.42. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -12.13 and a beta of 1.36. The company’s 50-day moving average price is $11.36 and its two-hundred day moving average price is $11.55.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 32.71% and a negative return on equity of 27.73%. Research analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Amplitude

A number of hedge funds have recently modified their holdings of AMPL. Vanguard Group Inc. grew its holdings in shares of Amplitude by 17.9% during the third quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock valued at $89,526,000 after buying an additional 1,177,465 shares in the last quarter. Toronado Partners LLC purchased a new position in Amplitude during the 1st quarter valued at about $18,993,000. State Street Corp lifted its position in shares of Amplitude by 512.7% in the second quarter. State Street Corp now owns 971,972 shares of the company’s stock worth $13,889,000 after purchasing an additional 813,324 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of 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 period. Finally, Bank of New York Mellon Corp grew its position in Amplitude by 1,972.5% during the first quarter. Bank of New York Mellon Corp now owns 552,868 shares of the company’s stock valued at $10,190,000 after purchasing an additional 526,191 shares in the last quarter. Hedge funds and other institutional investors 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.