Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) shares fell 7.3% during trading on Wednesday . The company traded as low as $9.22 and last traded at $9.27. 176,717 shares were traded during mid-day trading, a decline of 57% from the average session volume of 414,965 shares. The stock had previously closed at $10.00.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AMPL. KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They issued a "sector weight" rating for the company. Citigroup reduced 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. Scotiabank cut Amplitude from a "sector outperform" rating to a "sector perform" rating and set a $12.00 price target for the company. in a research report on Wednesday, February 21st. Piper Sandler restated a "neutral" rating and issued a $11.00 price target on shares of Amplitude in a research report on Wednesday, February 21st. Finally, Morgan Stanley cut their target price on Amplitude from $12.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.50.
Read Our Latest Stock Report on AMPL
Amplitude Price Performance
The firm has a 50-day moving average of $10.56 and a 200-day moving average of $11.50. The stock has a market cap of $1.14 billion, a PE ratio of -11.86 and a beta of 1.36.
Amplitude (NASDAQ:AMPL - Get Free Report) last announced 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). Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. The firm had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.56 million. Equities analysts forecast that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.
Insider Activity at Amplitude
In related news, Director Catherine Wong sold 3,515 shares of the stock in a transaction that occurred 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 directly owns 86,335 shares of the company's stock, valued at $1,033,429.95. The sale was disclosed in a filing with the SEC, which is available through this link. 28.71% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Amplitude
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Amplitude by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company's stock valued at $99,768,000 after purchasing an additional 105,616 shares during the last quarter. FMR LLC lifted its stake in shares of Amplitude by 15.1% in the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company's stock valued at $34,122,000 after purchasing an additional 386,413 shares during the last quarter. Sunriver Management LLC lifted its stake in shares of Amplitude by 28.2% in the 4th quarter. Sunriver Management LLC now owns 2,242,883 shares of the company's stock valued at $28,529,000 after purchasing an additional 493,046 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its stake in shares of Amplitude by 14.3% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company's stock valued at $19,272,000 after purchasing an additional 190,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Amplitude by 17.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,024,965 shares of the company's stock valued at $11,859,000 after purchasing an additional 149,397 shares during the last quarter. 73.20% of the stock is owned by institutional investors.
Amplitude Company Profile
(
Get Free Report)
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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