Morgan Stanley Raises Amplitude (NASDAQ:AMPL) Price Target to $13.00

Amplitude (NASDAQ:AMPL) had its price target lifted by Morgan Stanley from $11.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 1.79% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their target price for the company from $12.00 to $17.00 in a research report on Thursday. UBS Group raised their price objective on Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Friday, December 13th. Bank of America raised their price target on Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Piper Sandler upped their price objective on Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

Amplitude Stock Up 11.7 %

Shares of AMPL traded up $1.39 on Thursday, hitting $13.24. The company’s stock had a trading volume of 1,371,306 shares, compared to its average volume of 507,872. The firm’s fifty day moving average price is $11.40 and its 200-day moving average price is $10.00. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -19.74 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. As a group, equities analysts predict that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eric Vishria sold 6,437 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the sale, the director now owns 279,771 shares in the company, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors and hedge funds have recently modified their holdings of the stock. Occudo Quantitative Strategies LP lifted its stake in shares of Amplitude by 2.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock worth $436,000 after buying an additional 832 shares during the last quarter. Rhumbline Advisers raised its holdings in Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after acquiring an additional 1,040 shares during the period. Summit Investment Advisors Inc. lifted its position in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after acquiring an additional 1,492 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Amplitude by 2.6% during the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock worth $876,000 after acquiring an additional 2,111 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after purchasing an additional 2,324 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.