Amplitude (NASDAQ:AMPL) Upgraded by Morgan Stanley to Equal Weight Rating

Amplitude (NASDAQ:AMPL) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a $11.00 price objective on the stock, up from their prior price objective of $10.00. Morgan Stanley’s price objective suggests a potential upside of 7.74% from the company’s previous close.

Several other research firms have also recently weighed in on AMPL. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.00 to $15.00 in a research note on Monday, January 6th. Scotiabank raised their target price on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Robert W. Baird raised their target price on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.43.

Amplitude Stock Down 4.3 %

Shares of AMPL opened at $10.21 on Monday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.42. The company has a 50 day moving average of $10.69 and a 200-day moving average of $9.35. The stock has a market capitalization of $965.77 million, a P/E ratio of -15.24 and a beta of 1.34.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares of the company’s stock, valued at $3,362,847.42. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC grew its position in Amplitude by 56.6% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after acquiring an additional 535,624 shares during the last quarter. Cerity Partners LLC grew its position in Amplitude by 524.9% in the third quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock valued at $4,132,000 after acquiring an additional 386,915 shares during the last quarter. Horrell Capital Management Inc. bought a new position in Amplitude in the third quarter valued at about $1,597,000. Circumference Group LLC bought a new position in Amplitude in the third quarter valued at about $1,597,000. Finally, Geode Capital Management LLC grew its position in Amplitude by 7.1% in the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after acquiring an additional 126,056 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.