Amplitude, Inc. (NASDAQ:AMPL) Given Average Rating of "Reduce" by Brokerages

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) have earned a consensus recommendation of "Reduce" from the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.00.

A number of analysts have recently commented on the stock. KeyCorp began coverage on shares of Amplitude in a report on Thursday, March 21st. They set a "sector weight" rating on the stock. Citigroup cut their price objective on shares of Amplitude from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, February 21st. Morgan Stanley lowered shares of Amplitude from an "equal weight" rating to an "underweight" rating and set a $12.00 target price for the company. in a report on Thursday, February 1st. Piper Sandler reissued a "neutral" rating and issued a $11.00 price target on shares of Amplitude in a research report on Wednesday, February 21st. Finally, 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 research report on Wednesday, February 21st.

Amplitude Stock Down 1.8 %

Shares of AMPL traded down $0.19 during trading hours on Friday, hitting $10.16. The company had a trading volume of 338,058 shares, compared to its average volume of 454,170. Amplitude has a 52-week low of $8.50 and a 52-week high of $14.42. The stock's 50 day moving average price is $11.75 and its 200 day moving average price is $11.61. The firm has a market cap of $1.22 billion, a P/E ratio of -13.03 and a beta of 1.36.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The firm had revenue of $71.40 million for 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, research analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

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 sale, the director now 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. Insiders own 28.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Amplitude by 17.9% during the 3rd 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 bought a new stake in shares of Amplitude during the first quarter valued at approximately $18,993,000. State Street Corp raised its stake in shares of Amplitude by 512.7% during the second quarter. State Street Corp now owns 971,972 shares of the company's stock valued at $13,889,000 after acquiring an additional 813,324 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Amplitude by 21.2% in the second quarter. BlackRock Inc. now owns 4,612,285 shares of the company's stock valued at $50,735,000 after purchasing an additional 807,975 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Amplitude by 1,972.5% in the first quarter. Bank of New York Mellon Corp now owns 552,868 shares of the company's stock worth $10,190,000 after purchasing an additional 526,191 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.