Analysts Set Amplitude, Inc. (NASDAQ:AMPL) Price Target at $10.80

Amplitude, Inc. (NASDAQ:AMPL) has earned a consensus rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.80.

AMPL has been the topic of several analyst reports. Morgan Stanley lowered their target price on Amplitude from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. UBS Group lowered their target price on Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, Piper Sandler lowered their target price on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th.

Amplitude Trading Up 2.8 %

Shares of Amplitude stock opened at $8.77 on Friday. Amplitude has a twelve month low of $7.88 and a twelve month high of $14.42. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -12.01 and a beta of 1.31. The business’s 50 day simple moving average is $8.64 and its 200-day simple moving average is $10.42.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). Amplitude had a negative return on equity of 26.15% and a negative net margin of 30.28%. The firm had revenue of $72.62 million for the quarter, compared to analysts’ expectations of $72.25 million. Sell-side analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.16, for a total transaction of $32,197.40. Following the transaction, the director now directly owns 82,820 shares in the company, valued at approximately $758,631.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Amplitude

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Amplitude by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock worth $88,214,000 after acquiring an additional 264,477 shares in the last quarter. Sunriver Management LLC boosted its stake in shares of Amplitude by 28.2% during the 4th quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock worth $28,529,000 after acquiring an additional 493,046 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. boosted its stake in shares of Amplitude by 14.3% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock worth $19,272,000 after acquiring an additional 190,000 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Amplitude by 3,607.6% during the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock worth $9,353,000 after acquiring an additional 836,535 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Amplitude by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 556,755 shares of the company’s stock worth $7,082,000 after buying an additional 24,899 shares during the period. 73.20% of the stock is owned by institutional investors.

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.