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

Amplitude (NASDAQ:AMPL) had its target price reduced by equities research analysts at Morgan Stanley from $10.00 to $9.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 0.44% from the company’s previous close.

Several other research firms have also recently weighed in on AMPL. Citigroup reduced their price target on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. KeyCorp began coverage on shares of Amplitude in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Scotiabank downgraded 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.25.

Amplitude Stock Down 2.4 %

Shares of AMPL stock traded down $0.22 on Friday, reaching $9.04. The company had a trading volume of 328,299 shares, compared to its average volume of 423,354. The business’s 50-day moving average is $10.46 and its 200 day moving average is $11.47. Amplitude has a one year low of $8.50 and a one year high of $14.42. The stock has a market capitalization of $1.09 billion, a PE ratio of -11.59 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. On average, sell-side analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction dated Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 28.71% of the stock is owned by company insiders.

Institutional Trading of Amplitude

Several large investors have recently modified their holdings of AMPL. Readystate Asset Management LP bought a new position in Amplitude during the fourth quarter worth $2,197,000. Cerity Partners LLC bought a new stake in Amplitude in the 4th quarter valued at about $1,310,000. Bank of New York Mellon Corp raised its stake in Amplitude by 17.1% during the 3rd 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 period. M&T Bank Corp bought a new position in Amplitude in the third quarter worth approximately $409,000. Finally, Vanguard Group Inc. increased 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 acquiring an additional 1,177,465 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

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.