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

Shares of Amplitude, Inc. (NASDAQ:AMPL) have received an average recommendation of “Reduce” from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.20.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Amplitude

Large investors have recently modified their holdings of the business. Sunriver Management LLC increased its holdings in Amplitude by 28.2% in the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock valued at $28,529,000 after purchasing an additional 493,046 shares during the period. Readystate Asset Management LP acquired a new stake in shares of Amplitude in the fourth quarter valued at about $2,197,000. Cerity Partners LLC acquired a new stake in shares of Amplitude in the fourth quarter valued at about $1,310,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Amplitude by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,594 shares of the company’s stock worth $237,000 after acquiring an additional 5,009 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Amplitude by 17.9% in the third quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock worth $89,526,000 after acquiring an additional 1,177,465 shares during the period. Institutional investors own 73.20% of the company’s stock.

Amplitude Trading Up 0.8 %

Shares of NASDAQ:AMPL opened at $8.90 on Wednesday. The firm has a 50 day moving average of $9.15 and a 200-day moving average of $11.03. Amplitude has a 12 month low of $8.12 and a 12 month high of $14.42. The stock has a market capitalization of $1.08 billion, a PE ratio of -12.19 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) EPS 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 business had revenue of $72.62 million during the quarter, compared to the consensus estimate of $72.25 million. On average, research analysts predict that Amplitude will post -0.61 EPS for the current fiscal year.

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.