Amplitude (NASDAQ:AMPL) Price Target Lowered to $11.00 at Morgan Stanley

Amplitude (NASDAQ:AMPL) had its price objective cut by stock analysts at Morgan Stanley from $13.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 30.02% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. DA Davidson cut their target price on Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Amplitude in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amplitude presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Amplitude Price Performance

Shares of NASDAQ:AMPL traded down $0.03 during trading on Wednesday, hitting $8.46. The company had a trading volume of 305,647 shares, compared to its average volume of 632,675. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -10.95 and a beta of 1.40. The company has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $10.71. Amplitude has a one year low of $7.37 and a one year high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The firm had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. On average, equities research analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the transaction, the director now directly owns 286,859 shares in the company, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Amplitude in the 4th quarter worth $38,000. Aquatic Capital Management LLC grew its stake in shares of Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after acquiring an additional 2,647 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Amplitude by 45,828.6% during the first quarter. GAMMA Investing LLC now owns 6,430 shares of the company’s stock valued at $631,000 after acquiring an additional 6,416 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after purchasing an additional 1,492 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.