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

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

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

Amplitude Stock Performance

NASDAQ:AMPL opened at $8.58 on Wednesday. The firm has a market capitalization of $1.05 billion, a PE ratio of -11.75 and a beta of 1.31. The firm’s fifty day simple moving average is $9.10 and its 200 day simple moving average is $10.96. Amplitude has a 1 year low of $8.12 and a 1 year high of $14.42.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate 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. As a group, analysts anticipate that Amplitude will post -0.61 EPS for the current fiscal year.

Insider Transactions at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.16, for a total value of $32,197.40. Following the transaction, the director now owns 82,820 shares of the company’s stock, valued at $758,631.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 28.71% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently made changes to their positions in the business. Vishria Bird Financial Group LLC increased its position in shares of Amplitude by 0.4% during the fourth quarter. Vishria Bird Financial Group LLC now owns 198,557 shares of the company’s stock valued at $2,526,000 after acquiring an additional 885 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Amplitude by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock worth $141,000 after purchasing an additional 1,099 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Amplitude by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 12,356 shares of the company’s stock worth $134,000 after acquiring an additional 1,145 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Amplitude by 8.6% during the 4th quarter. Arizona State Retirement System now owns 17,278 shares of the company’s stock worth $220,000 after acquiring an additional 1,362 shares during the last quarter. Finally, Spouting Rock Asset Management LLC boosted its stake in shares of Amplitude by 12.1% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 16,021 shares of the company’s stock worth $185,000 after acquiring an additional 1,724 shares during 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.