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

Amplitude (NASDAQ:AMPL) had its price target cut by UBS Group from $11.00 to $9.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

AMPL has been the topic of several other research reports. Morgan Stanley cut their target price on Amplitude from $10.00 to $9.00 and set an underweight rating on the stock in a research report on Friday, May 10th. Piper Sandler cut their price objective on shares of Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Finally, Robert W. Baird lowered their target price on shares of Amplitude from $12.00 to $10.00 and set a neutral rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $10.33.

Amplitude Stock Up 0.6 %

Shares of NASDAQ:AMPL opened at $8.00 on Friday. The firm has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $10.06. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.42. The stock has a market capitalization of $974.73 million, a P/E ratio of -10.96 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($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 $73.30 million during the quarter, compared to the consensus estimate of $71.98 million. During the same period in the previous year, the business posted ($0.17) EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, analysts expect that Amplitude will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 82,820 shares of the company’s stock, valued at $758,631.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 28.71% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Amplitude by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after acquiring an additional 105,616 shares during the period. Sunriver Management LLC grew its stake in Amplitude by 28.2% in the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company’s stock worth $28,529,000 after purchasing an additional 493,046 shares in the last quarter. Readystate Asset Management LP purchased a new position in Amplitude during the 4th quarter worth $2,197,000. Jacobs Levy Equity Management Inc. raised its position in Amplitude by 918.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock valued at $2,111,000 after purchasing an additional 174,967 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Amplitude in the 4th quarter worth $1,310,000. 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.