Brokerages Set Amplitude, Inc. (NASDAQ:AMPL) Target Price at $11.20

Amplitude, Inc. (NASDAQ:AMPL) has been given a consensus rating of “Reduce” by the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.20.

A number of brokerages have issued reports on AMPL. UBS Group cut their price objective on Amplitude from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Morgan Stanley cut their price target on shares of Amplitude from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, May 10th. Finally, KeyCorp started coverage on shares of Amplitude in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock.

Insider Activity at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $9.16, for a total value of $32,197.40. Following the completion of the transaction, the director now directly owns 82,820 shares of the company’s stock, valued at $758,631.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 28.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amplitude

Several hedge funds and other institutional investors have recently made changes to their positions in AMPL. Swiss National Bank boosted its holdings in Amplitude by 3.6% in the third quarter. Swiss National Bank now owns 122,900 shares of the company’s stock valued at $1,422,000 after acquiring an additional 4,300 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Amplitude by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,856 shares of the company’s stock valued at $6,154,000 after purchasing an additional 55,979 shares during the period. HighTower Advisors LLC bought a new position in shares of Amplitude in the 3rd quarter valued at about $877,000. FMR LLC grew its position in shares of Amplitude by 15.1% during the 3rd quarter. FMR LLC now owns 2,949,218 shares of the company’s stock worth $34,122,000 after buying an additional 386,413 shares during the period. Finally, Trexquant Investment LP raised its stake in shares of Amplitude by 136.6% during the third quarter. Trexquant Investment LP now owns 135,005 shares of the company’s stock worth $1,562,000 after buying an additional 77,948 shares during the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

Amplitude Stock Performance

NASDAQ:AMPL opened at $8.90 on Wednesday. The company has a 50-day moving average of $9.15 and a 200-day moving average of $11.03. Amplitude has a 52 week low of $8.12 and a 52 week high of $14.42. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -12.19 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The firm had revenue of $72.62 million during the quarter, compared to analysts’ expectations of $72.25 million. Sell-side analysts forecast that Amplitude will post -0.61 EPS for the current year.

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.