Amplitude (NASDAQ:AMPL) Given New $10.00 Price Target at Morgan Stanley

Amplitude (NASDAQ:AMPL) had its target price trimmed by Morgan Stanley from $12.00 to $10.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities analysts have also issued reports on the company. Citigroup decreased their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, February 21st. 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 report on Wednesday, February 21st. Piper Sandler restated a neutral rating and issued a $11.00 target price on shares of Amplitude in a research report on Wednesday, February 21st. Finally, KeyCorp initiated coverage on Amplitude in a research report on Thursday, March 21st. They issued a sector weight rating for the company. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $11.50.

Amplitude Trading Down 1.9 %

NASDAQ:AMPL opened at $9.49 on Wednesday. The firm has a market capitalization of $1.14 billion, a PE ratio of -12.17 and a beta of 1.36. The stock has a 50 day moving average of $11.53 and a 200-day moving average of $11.58. Amplitude has a 52 week low of $8.50 and a 52 week high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. The business had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. As a group, analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of the stock in a transaction 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 completion of the sale, the director now owns 86,335 shares in the company, valued at $1,033,429.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.71% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Amplitude by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after acquiring an additional 105,616 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of Amplitude in the fourth quarter valued at about $2,197,000. Legal & General Group Plc grew its position 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 purchasing an additional 2,739 shares during the last quarter. Barclays PLC grew its position 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 purchasing an additional 85,814 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Amplitude in the fourth quarter valued at about $423,000. 73.20% of the stock is owned by institutional investors and hedge funds.

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.