Amplitude (NASDAQ:AMPL) Stock Price Down 7.5% - Here's Why

Key Points

• Amplitude (NASDAQ:AMPL) shares fell 7.5%, trading at $11.66 after closing at $12.60, with a notable increase in trading volume.
• Several analysts rate Amplitude as a "Moderate Buy", with target prices ranging from $12.00 to $18.00, indicating positive sentiment despite the recent stock decline.
• The company reported stable quarterly earnings of $0.01 EPS and a revenue increase of 13.6% year-over-year, signaling growth potential amidst a negative net margin.

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) dropped 7.5% during trading on Friday . The company traded as low as $11.55 and last traded at $11.66. Approximately 1,323,348 shares traded hands during trading, an increase of 13% from the average daily volume of 1,166,374 shares. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

AMPL has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Amplitude from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group decreased their price objective on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Scotiabank decreased their price objective on Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.80.

Amplitude Trading Up 1.5%

The stock has a 50 day moving average price of $12.39 and a two-hundred day moving average price of $11.56. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -14.99 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $83.27 million for the quarter, compared to the consensus estimate of $81.29 million. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%. The business's revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In related 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 transaction of $106,189.98. Following the sale, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Erica Schultz sold 7,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total value of $94,200.00. Following the sale, the director directly owned 107,406 shares in the company, valued at $1,349,019.36. The trade was a 6.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,911 shares of company stock worth $571,352 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Amplitude by 28.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 266,134 shares of the company's stock worth $3,300,000 after purchasing an additional 58,143 shares in the last quarter. ARS Investment Partners LLC bought a new position in Amplitude during the 2nd quarter worth about $380,000. TRUE Private Wealth Advisors bought a new position in Amplitude during the 2nd quarter worth about $292,000. Intech Investment Management LLC increased its holdings in Amplitude by 31.3% during the 2nd quarter. Intech Investment Management LLC now owns 48,489 shares of the company's stock worth $601,000 after purchasing an additional 11,569 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Amplitude by 19.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,086 shares of the company's stock worth $249,000 after purchasing an additional 3,214 shares in the last quarter. 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.