Brokerages Set Amplitude, Inc. (NASDAQ:AMPL) PT at $12.00

Shares of Amplitude, Inc. (NASDAQ:AMPL) have received a consensus recommendation of “Reduce” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

A number of research firms have recently commented on AMPL. KeyCorp began coverage on Amplitude in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Scotiabank cut Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, February 21st. Citigroup reduced their target price on Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. Finally, Morgan Stanley lowered Amplitude from an “equal weight” rating to an “underweight” rating and set a $12.00 target price for the company. in a report on Thursday, February 1st.

Insider Activity

In related news, Director Catherine Wong sold 3,515 shares of the firm’s 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 of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.71% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors and hedge funds have recently modified their holdings of AMPL. Bank of New York Mellon Corp increased its holdings in Amplitude by 17.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,024,965 shares of the company’s stock worth $11,859,000 after buying an additional 149,397 shares in the last quarter. M&T Bank Corp purchased a new position in Amplitude in the 3rd quarter worth approximately $409,000. Vanguard Group Inc. lifted its holdings in Amplitude by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock worth $89,526,000 after purchasing an additional 1,177,465 shares in the last quarter. Algert Global LLC lifted its holdings in Amplitude by 41.0% in the 3rd quarter. Algert Global LLC now owns 203,367 shares of the company’s stock worth $2,353,000 after purchasing an additional 59,177 shares in the last quarter. Finally, FMR LLC lifted its holdings in Amplitude by 15.1% in the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company’s stock worth $34,122,000 after purchasing an additional 386,413 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

Amplitude Price Performance

AMPL opened at $10.16 on Friday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.03 and a beta of 1.36. The firm’s fifty day moving average price is $11.75 and its two-hundred day moving average price is $11.62. Amplitude has a 1 year low of $8.50 and a 1 year high of $14.42.

Amplitude (NASDAQ:AMPL) last posted 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). The firm had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.56 million. Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. As a group, equities analysts anticipate that Amplitude will post -0.62 EPS for the current year.

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.