Amplitude (NASDAQ:AMPL) Trading Down 2.9% After Analyst Downgrade

Amplitude, Inc. (NASDAQ:AMPLGet Free Report)’s share price was down 2.9% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $11.00 to $9.00. Piper Sandler currently has a neutral rating on the stock. Amplitude traded as low as $8.23 and last traded at $8.25. Approximately 32,531 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 529,409 shares. The stock had previously closed at $8.50.

AMPL has been the topic of a number of other research reports. Morgan Stanley reduced their target price on Amplitude from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. KeyCorp began coverage on Amplitude in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, UBS Group dropped 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. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, Amplitude currently has a consensus rating of “Hold” and a consensus price target of $10.80.

View Our Latest Research Report on Amplitude

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction that occurred 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 sale, the director now owns 82,820 shares of the company’s stock, valued at approximately $758,631.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Amplitude by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock valued at $88,214,000 after purchasing an additional 264,477 shares during the period. Sunriver Management LLC boosted its stake in Amplitude by 28.2% in the 4th 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. Optimus Prime Fund Management Co. Ltd. boosted its stake in Amplitude by 14.3% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company’s stock valued at $19,272,000 after purchasing an additional 190,000 shares during the period. Janus Henderson Group PLC raised its holdings in Amplitude by 3,607.6% in the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after acquiring an additional 836,535 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Amplitude by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 556,755 shares of the company’s stock valued at $7,082,000 after acquiring an additional 24,899 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

Amplitude Stock Performance

The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -11.64 and a beta of 1.31. The company has a fifty day simple moving average of $8.90 and a two-hundred day simple moving average of $10.76.

Amplitude (NASDAQ:AMPLGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). Amplitude had a negative return on equity of 26.15% and a negative net margin of 30.28%. The company had revenue of $72.62 million during the quarter, compared to analysts’ expectations of $72.25 million. As a group, equities analysts anticipate that Amplitude, Inc. will post -0.61 earnings per share for the current year.

Amplitude Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Amplitude Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amplitude and related companies with MarketBeat.com's FREE daily email newsletter.