Amplitude (NASDAQ:AMPL) Price Target Lowered to $9.00 at UBS Group

Amplitude (NASDAQ:AMPL) had its price objective reduced by UBS Group from $11.00 to $9.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on AMPL. Piper Sandler cut their target price on Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Robert W. Baird dropped their price target on Amplitude from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Friday. Finally, Morgan Stanley reduced their price objective on Amplitude from $10.00 to $9.00 and set an underweight rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Amplitude presently has an average rating of Hold and an average target price of $10.33.

Amplitude Stock Down 0.4 %

Shares of Amplitude stock traded down $0.03 during trading on Friday, reaching $7.95. The company’s stock had a trading volume of 766,352 shares, compared to its average volume of 547,830. The company has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $10.11. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.42. The company has a market cap of $968.64 million, a price-to-earnings ratio of -10.89 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The company had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.16, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 28.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently modified their holdings of AMPL. Renaissance Technologies LLC grew its holdings in Amplitude by 19.5% in the second quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock valued at $3,677,000 after purchasing an additional 67,500 shares during the period. Quest Partners LLC purchased a new position in shares of Amplitude during the 2nd quarter valued at approximately $41,000. Arizona State Retirement System grew its position in shares of Amplitude by 14.4% in the second quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock valued at $187,000 after purchasing an additional 2,642 shares during the period. TD Asset Management Inc increased its stake in shares of Amplitude by 24.2% during the second quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock worth $2,001,000 after purchasing an additional 43,780 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Amplitude by 14.5% during the second quarter. Rhumbline Advisers now owns 103,237 shares of the company’s stock worth $919,000 after purchasing an additional 13,099 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other 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.