Morgan Stanley Cuts Amplitude (NASDAQ:AMPL) Price Target to $10.00

Amplitude (NASDAQ:AMPL) had its price target trimmed by Morgan Stanley from $12.00 to $10.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Scotiabank cut shares of Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target for the company. in a research report on Wednesday, February 21st. Citigroup decreased their price objective on shares of Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. KeyCorp assumed coverage on shares of Amplitude in a research report on Thursday, March 21st. They set a sector weight rating for the company. Finally, Piper Sandler reiterated a neutral rating and set a $11.00 price objective on shares of Amplitude in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $11.50.

Amplitude Price Performance

Shares of NASDAQ:AMPL opened at $9.49 on Wednesday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -12.17 and a beta of 1.36. The firm has a 50 day simple moving average of $11.53 and a 200 day simple moving average of $11.58. Amplitude has a one year low of $8.50 and a one year high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. As a group, analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the transaction, the director now directly owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new position in Amplitude in the first quarter valued at about $28,000. Dark Forest Capital Management LP purchased a new position in Amplitude in the first quarter valued at about $27,000. Lazard Asset Management LLC purchased a new position in Amplitude in the fourth quarter valued at about $30,000. BluePath Capital Management LLC purchased a new position in Amplitude in the third quarter valued at about $33,000. Finally, Russell Investments Group Ltd. purchased a new position in Amplitude in the second quarter valued at about $40,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

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.