Amplitude, Inc. (NASDAQ:AMPL) Receives $12.00 Consensus Price Target from Analysts

Shares of Amplitude, Inc. (NASDAQ:AMPL) have earned a consensus rating of “Reduce” from the six research firms that are presently covering the company, MarketBeat reports. One 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 brokers that have issued ratings on the stock in the last year is $11.50.

Several research firms have recently issued reports on AMPL. Morgan Stanley lowered their price target on Amplitude from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday. KeyCorp started coverage on Amplitude in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Scotiabank lowered Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research report on Wednesday, February 21st. Piper Sandler reissued a “neutral” rating and issued a $11.00 target price on shares of Amplitude in a research report on Wednesday, February 21st. Finally, Citigroup decreased their target price on Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st.

Amplitude Price Performance

AMPL opened at $9.46 on Friday. The stock has a 50-day moving average price of $11.45 and a 200-day moving average price of $11.56. The firm has a market cap of $1.14 billion, a PE ratio of -12.13 and a beta of 1.36. Amplitude has a 1 year low of $8.50 and a 1 year high of $14.42.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.56 million. Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. As a group, sell-side analysts anticipate that Amplitude will post -0.62 EPS for the current year.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 directly owns 86,335 shares in the company, valued at approximately $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 28.71% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of large investors have recently made changes to their positions in AMPL. Vanguard Group Inc. grew its stake in shares of Amplitude by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock valued at $89,526,000 after purchasing an additional 1,177,465 shares during the period. Toronado Partners LLC bought a new position in shares of Amplitude during the 1st quarter valued at approximately $18,993,000. State Street Corp grew its stake in shares of Amplitude by 512.7% during the 2nd quarter. State Street Corp now owns 971,972 shares of the company’s stock valued at $13,889,000 after acquiring an additional 813,324 shares during the period. BlackRock Inc. grew its stake in shares of Amplitude by 21.2% during the 2nd quarter. BlackRock Inc. now owns 4,612,285 shares of the company’s stock valued at $50,735,000 after acquiring an additional 807,975 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Amplitude by 1,972.5% during the 1st quarter. Bank of New York Mellon Corp now owns 552,868 shares of the company’s stock valued at $10,190,000 after acquiring an additional 526,191 shares during the period. 73.20% of the stock is currently owned by institutional investors.

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.