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

Amplitude (NASDAQ:AMPL - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

AMPL has been the topic of several other reports. Robert W. Baird reduced their price objective on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Benchmark restated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Morgan Stanley raised their target price on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Bank of America raised their target price on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, Scotiabank reduced their target price on Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amplitude presently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Amplitude Stock Down 1.9%

Amplitude stock traded down $0.25 during midday trading on Friday, reaching $12.59. 1,132,756 shares of the stock traded hands, compared to its average volume of 822,496. The stock's fifty day moving average is $12.34 and its 200-day moving average is $11.39. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The stock has a market cap of $1.24 billion, a P/E ratio of -16.57 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) 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 company had revenue of $79.95 million for the quarter, compared to analysts' expectations of $79.81 million. During the same quarter last year, the company earned $0.01 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Activity

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the sale, the director directly owned 79,152 shares in the company, valued at $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erica Schultz sold 7,500 shares of the firm'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 completion of the sale, the director owned 107,406 shares in the company, valued at approximately $1,349,019.36. This represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,911 shares of company stock worth $825,102. Corporate insiders own 23.83% of the company's stock.

Institutional Trading of Amplitude

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 buying an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Amplitude by 1.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,091,044 shares of the company's stock valued at $92,638,000 after purchasing an additional 94,815 shares in the last quarter. Sunriver Management LLC boosted its holdings in Amplitude by 2.1% in the 1st quarter. Sunriver Management LLC now owns 3,850,928 shares of the company's stock valued at $39,241,000 after purchasing an additional 78,120 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Amplitude in the 1st quarter valued at approximately $20,292,000. Finally, Geode Capital Management LLC boosted its holdings in Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock valued at $20,636,000 after purchasing an additional 52,033 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.