Morgan Stanley Upgrades Amplitude (NASDAQ:AMPL) to Equal Weight

Morgan Stanley upgraded shares of Amplitude (NASDAQ:AMPL) from an underweight rating to an equal weight rating in a research report released on Monday morning, MarketBeat Ratings reports. The firm currently has $11.00 target price on the stock, up from their prior target price of $10.00.

Several other equities analysts also recently weighed in on the company. Scotiabank lifted their target price on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $11.00 to $15.00 in a report on Monday, January 6th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Friday, December 13th. Finally, Robert W. Baird upped their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.43.

Amplitude Stock Up 0.4 %

NASDAQ:AMPL opened at $10.25 on Monday. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.42. The stock’s fifty day moving average is $10.71 and its two-hundred day moving average is $9.36. The stock has a market capitalization of $969.56 million, a price-to-earnings ratio of -15.30 and a beta of 1.34.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total value of $254,500.00. Following the sale, the director now directly owns 286,208 shares in the company, valued at $2,913,597.44. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after purchasing an additional 2,324 shares during the last quarter. Arizona State Retirement System raised its stake in Amplitude by 14.4% during the 2nd quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after acquiring an additional 2,642 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amplitude by 19.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company’s stock valued at $199,000 after acquiring an additional 3,552 shares during the last quarter. Quantbot Technologies LP boosted its stake in Amplitude by 21.5% in the third quarter. Quantbot Technologies LP now owns 24,390 shares of the company’s stock valued at $219,000 after acquiring an additional 4,309 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Amplitude during the second quarter worth about $41,000. Institutional investors and hedge funds 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.