Amplitude, Inc. (NASDAQ:AMPL) Given Average Rating of “Reduce” by Analysts

Amplitude, Inc. (NASDAQ:AMPL) has received a consensus rating of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.50.

A number of research firms recently weighed in on AMPL. Morgan Stanley dropped their price target on Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. 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 report on Wednesday, February 21st. KeyCorp assumed coverage on Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st.

Amplitude Trading Down 0.3 %

AMPL opened at $9.46 on Friday. Amplitude has a 1-year low of $8.50 and a 1-year high of $14.42. The stock’s fifty day simple moving average is $11.45 and its 200 day simple moving average is $11.56. The stock has a market cap of $1.14 billion, a PE ratio of -12.13 and a beta of 1.36.

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

Insider Buying and Selling

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 transaction, the director now owns 86,335 shares in the company, valued at $1,033,429.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Amplitude by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after purchasing an additional 105,616 shares during the period. BlackRock Inc. boosted its stake in Amplitude by 21.2% in the second quarter. BlackRock Inc. now owns 4,612,285 shares of the company’s stock valued at $50,735,000 after buying an additional 807,975 shares in the last quarter. FMR LLC boosted its stake in Amplitude by 15.1% in the third quarter. FMR LLC now owns 2,949,218 shares of the company’s stock valued at $34,122,000 after buying an additional 386,413 shares in the last quarter. Sunriver Management LLC boosted its stake in Amplitude by 28.2% in the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock valued at $28,529,000 after buying an additional 493,046 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Amplitude by 11.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,201,701 shares of the company’s stock valued at $26,597,000 after buying an additional 234,478 shares in the last quarter. 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.