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

Amplitude (NASDAQ:AMPL) had its price target reduced by Morgan Stanley from $12.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.71% from the company’s current price.

A number of other equities research analysts have also commented on AMPL. Citigroup reduced their price target on Amplitude from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. KeyCorp initiated coverage on Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Scotiabank lowered Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 21st. Finally, Piper Sandler restated a “neutral” rating and set a $11.00 target price on shares of Amplitude in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Amplitude presently has an average rating of “Hold” and an average price target of $11.50.

Amplitude Trading Down 1.2 %

AMPL traded down $0.12 on Wednesday, reaching $9.55. The stock had a trading volume of 126,887 shares, compared to its average volume of 443,552. The firm has a 50-day moving average of $11.61 and a 200-day moving average of $11.59. Amplitude has a fifty-two week low of $8.50 and a fifty-two week high of $14.42. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.22 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) EPS 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 company had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. Sell-side analysts anticipate that Amplitude 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 company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $11.97, for a total transaction of $42,074.55. Following the transaction, the director now directly owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.71% of the stock is owned by company insiders.

Institutional Trading of Amplitude

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