Morgan Stanley Trims Amplitude (NASDAQ:AMPL) Target Price to $10.00

Amplitude (NASDAQ:AMPL) had its price objective dropped by research analysts at Morgan Stanley from $12.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 4.71% from the stock’s previous close.

AMPL has been the subject of several other research reports. Citigroup cut their price target on shares of Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. KeyCorp initiated coverage on shares of Amplitude in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Scotiabank lowered shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a report on Wednesday, February 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Amplitude has an average rating of “Hold” and an average price target of $11.50.

Amplitude Stock Performance

Shares of Amplitude stock traded down $0.12 during trading on Wednesday, hitting $9.55. 126,887 shares of the company’s stock were exchanged, compared to its average volume of 443,552. The business has a 50-day simple moving average of $11.61 and a 200-day simple moving average of $11.59. Amplitude has a 52-week low of $8.50 and a 52-week high of $14.42. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.22 and a beta of 1.36.

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

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the transaction, the director now owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.71% of the company’s stock.

Institutional Trading of Amplitude

Institutional investors and hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP purchased a new position in Amplitude in the first quarter valued at approximately $27,000. US Bancorp DE acquired a new stake in shares of Amplitude in the first quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new stake in shares of Amplitude in the fourth quarter valued at approximately $30,000. BluePath Capital Management LLC acquired a new stake in shares of Amplitude in the third quarter valued at approximately $33,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Amplitude in the second quarter valued at approximately $40,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Amplitude

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.