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

Amplitude (NASDAQ:AMPL) had its target price reduced by Morgan Stanley from $12.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

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

Amplitude Price Performance

AMPL stock opened at $9.46 on Wednesday. The business’s 50-day moving average is $11.36 and its two-hundred day moving average is $11.55. The firm has a market capitalization of $1.14 billion, a P/E ratio of -12.13 and a beta of 1.36. Amplitude has a 1 year low of $8.50 and a 1 year high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results 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). Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. The firm had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.56 million. On average, analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Buying and Selling

In other news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 directly owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AMPL. Vishria Bird Financial Group LLC lifted its holdings in shares of Amplitude by 0.4% during the fourth quarter. Vishria Bird Financial Group LLC now owns 198,557 shares of the company’s stock worth $2,526,000 after purchasing an additional 885 shares during the period. Credit Suisse AG boosted its holdings in shares of Amplitude by 2.2% in the first quarter. Credit Suisse AG now owns 43,755 shares of the company’s stock valued at $544,000 after acquiring an additional 951 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Amplitude by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock worth $141,000 after purchasing an additional 1,099 shares in the last quarter. Legal & General Group Plc lifted its position in Amplitude by 5.9% in the fourth quarter. Legal & General Group Plc now owns 20,100 shares of the company’s stock valued at $243,000 after purchasing an additional 1,112 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Amplitude by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 59,660 shares of the company’s stock valued at $721,000 after purchasing an additional 1,226 shares in the last quarter. 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.