Amplitude (NASDAQ:AMPL) Shares Down 7.3%

Amplitude, Inc. (NASDAQ:AMPL)’s stock price traded down 7.3% on Wednesday . The company traded as low as $9.22 and last traded at $9.27. 176,717 shares traded hands during trading, a decline of 57% from the average session volume of 414,965 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

A number of analysts have issued reports on AMPL shares. Morgan Stanley reduced their price target on shares of Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, April 17th. Citigroup cut their target price 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. 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. Scotiabank cut shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 21st. Finally, KeyCorp started coverage on shares of Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.50.

Amplitude Stock Performance

The company has a market cap of $1.12 billion, a P/E ratio of -11.87 and a beta of 1.36. The business’s fifty day moving average is $10.46 and its two-hundred day moving average is $11.47.

Amplitude (NASDAQ:AMPL) last issued its 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). The firm had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. Analysts expect that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Catherine Wong sold 3,515 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.71% of the stock is currently owned by company insiders.

Institutional Trading of Amplitude

A number of institutional investors have recently bought and sold shares of AMPL. Headlands Technologies LLC acquired a new stake in shares of Amplitude during the first quarter worth $32,000. Russell Investments Group Ltd. purchased a new position in shares of Amplitude in the first quarter worth about $45,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Amplitude during the first quarter worth about $95,000. SG Americas Securities LLC purchased a new stake in Amplitude in the third quarter valued at approximately $116,000. Finally, ProShare Advisors LLC increased its holdings in Amplitude by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 12,356 shares of the company’s stock worth $134,000 after buying an additional 1,145 shares during the period. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.