Amplitude (NASDAQ:AMPL - Free Report) had its price objective cut by Morgan Stanley from $12.00 to $10.00 in a report released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the stock.
Several other equities research analysts have also recently issued reports on the company. Piper Sandler reaffirmed a neutral rating and issued a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. KeyCorp initiated coverage on Amplitude in a report on Thursday, March 21st. They issued a sector weight rating for the company. Scotiabank downgraded Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 21st. Finally, Citigroup lowered their price target on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $11.50.
Read Our Latest Stock Report on Amplitude
Amplitude Trading Down 1.9 %
AMPL traded down $0.18 on Wednesday, hitting $9.49. 243,495 shares of the company's stock traded hands, compared to its average volume of 445,180. The company's 50 day simple moving average is $11.61 and its 200-day simple moving average is $11.59. Amplitude has a one year low of $8.50 and a one year high of $14.42. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -12.17 and a beta of 1.36.
Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings data 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). Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.56 million. As a group, equities analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.
Insider Buying and Selling at Amplitude
In related news, Director Catherine Wong sold 3,515 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the transaction, the director now owns 86,335 shares in the company, valued at approximately $1,033,429.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 28.71% of the company's stock.
Institutional Investors Weigh In On Amplitude
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Amplitude by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company's stock worth $99,768,000 after purchasing an additional 105,616 shares during the period. Readystate Asset Management LP purchased a new position in shares of Amplitude during the fourth quarter valued at $2,197,000. Legal & General Group Plc raised its holdings in shares of Amplitude by 5.0% in the fourth quarter. Legal & General Group Plc now owns 57,293 shares of the company's stock valued at $729,000 after acquiring an additional 2,739 shares in the last quarter. Barclays PLC raised its holdings in shares of Amplitude by 389.2% in the fourth quarter. Barclays PLC now owns 107,861 shares of the company's stock valued at $1,372,000 after acquiring an additional 85,814 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Amplitude in the fourth quarter worth about $423,000. Institutional investors own 73.20% of the company's stock.
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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