Amplitude (NASDAQ:AMPL) Trading Down 7.3%

Amplitude, Inc. (NASDAQ:AMPL)’s stock price fell 7.3% during mid-day trading on Wednesday . The stock traded as low as $9.22 and last traded at $9.27. 176,717 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 414,965 shares. The stock had previously closed at $10.00.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMPL. Citigroup dropped their price objective on Amplitude from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Morgan Stanley dropped their target price on Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 17th. Scotiabank cut shares of Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 price target for the company. in a research note on Wednesday, February 21st. KeyCorp assumed coverage on shares of Amplitude in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and set a $11.00 price target on shares of Amplitude in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.50.

Amplitude Trading Up 0.2 %

The firm has a market cap of $1.12 billion, a P/E ratio of -11.87 and a beta of 1.36. The business has a 50 day moving average of $10.46 and a two-hundred day moving average of $11.47.

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

Insiders Place Their Bets

In related news, Director Catherine Wong sold 3,515 shares of the 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 sale, the director now owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.71% of the company’s stock.

Institutional Trading of Amplitude

A number of institutional investors and hedge funds have recently made changes to their positions in AMPL. Vishria Bird Financial Group LLC lifted its stake in Amplitude by 0.4% during the fourth quarter. Vishria Bird Financial Group LLC now owns 198,557 shares of the company’s stock worth $2,526,000 after purchasing an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Amplitude by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock valued at $141,000 after acquiring an additional 1,099 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Amplitude by 10.2% in the first 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 grew its holdings 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 valued at $220,000 after purchasing an additional 1,362 shares during the last quarter. Finally, Spouting Rock Asset Management LLC increased its position in 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 purchasing an additional 1,724 shares in 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.