Amplitude (NASDAQ:AMPL) Upgraded at Morgan Stanley

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

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

Amplitude Price Performance

Shares of AMPL opened at $10.85 on Monday. Amplitude has a one year low of $7.37 and a one year high of $14.42. The stock has a 50-day moving average of $10.73 and a 200-day moving average of $9.37. The company has a market cap of $1.03 billion, a PE ratio of -16.19 and a beta of 1.34.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 6,437 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the completion of the sale, the director now owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in Amplitude in the second quarter worth about $92,000. Rhumbline Advisers boosted its holdings in shares of Amplitude by 14.5% during the 2nd quarter. Rhumbline Advisers now owns 103,237 shares of the company’s stock valued at $919,000 after acquiring an additional 13,099 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Amplitude by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after buying an additional 2,642 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Amplitude during the 2nd quarter valued at about $41,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Amplitude by 19.5% during the 2nd quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock worth $3,677,000 after acquiring an additional 67,500 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

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.