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

Amplitude (NASDAQ:AMPLFree Report) had its price objective reduced by Morgan Stanley from $12.00 to $10.00 in a report published on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also weighed in on AMPL. Piper Sandler restated a neutral rating and issued a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. Citigroup reduced their target price on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, February 21st. KeyCorp started coverage on Amplitude in a report on Thursday, March 21st. They issued a sector weight rating for the company. Finally, Scotiabank lowered Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 target price for the company. in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Amplitude presently has an average rating of Hold and a consensus target price of $11.50.

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Amplitude Price Performance

Shares of Amplitude stock opened at $9.46 on Wednesday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -12.13 and a beta of 1.36. Amplitude has a 52-week low of $8.50 and a 52-week high of $14.42. The stock has a 50-day simple moving average of $11.36 and a 200-day simple moving average of $11.55.

Amplitude (NASDAQ:AMPLGet Free Report) last announced its quarterly earnings results 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 firm 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%. As a group, equities research analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 3,515 shares of Amplitude 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 directly owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 28.71% of the company’s stock.

Institutional Trading of Amplitude

A number of institutional investors and hedge funds have recently modified their holdings of AMPL. Dark Forest Capital Management LP bought a new stake in shares of Amplitude during the first quarter valued at approximately $27,000. US Bancorp DE bought a new stake in shares of Amplitude during the first quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in shares of Amplitude during the fourth quarter valued at approximately $30,000. BluePath Capital Management LLC bought a new stake in shares of Amplitude during the third quarter valued at approximately $33,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Amplitude during the second quarter valued at approximately $40,000. 73.20% of the stock is currently owned by institutional investors.

About Amplitude

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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.

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Analyst Recommendations for Amplitude (NASDAQ:AMPL)

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