Amplitude (NASDAQ:AMPL) Stock Price Down 7.3%

Shares of Amplitude, Inc. (NASDAQ:AMPL) fell 7.3% during trading on Wednesday . The company traded as low as $9.22 and last traded at $9.27. 176,717 shares changed hands during trading, a decline of 57% from the average session volume of 414,965 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMPL. Piper Sandler reiterated a “neutral” rating and set a $11.00 price objective on shares of Amplitude in a research note on Wednesday, February 21st. Scotiabank lowered Amplitude from a “sector outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research report on Wednesday, February 21st. Morgan Stanley lowered their price target on Amplitude from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, April 17th. KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Finally, Citigroup reduced their price target 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. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.50.

Amplitude Stock Down 6.6 %

The firm’s fifty day simple moving average is $10.56 and its two-hundred day simple moving average is $11.50. The firm has a market cap of $1.12 billion, a PE ratio of -11.86 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last released its earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $71.40 million for the quarter, compared to analysts’ expectations 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 anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Catherine Wong sold 3,515 shares of Amplitude 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 completion of the transaction, the director now directly owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 28.71% of the company’s stock.

Institutional Trading of Amplitude

Several institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Amplitude in the 1st quarter valued at about $32,000. Russell Investments Group Ltd. purchased a new stake in shares of Amplitude in the first quarter valued at approximately $45,000. ANTIPODES PARTNERS Ltd bought a new position in Amplitude in the first quarter worth approximately $95,000. SG Americas Securities LLC purchased a new position in Amplitude during the 3rd quarter worth $116,000. Finally, Allspring Global Investments Holdings LLC raised its position in Amplitude by 22.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,885 shares of the company’s stock valued at $151,000 after purchasing an additional 2,170 shares in the last quarter. 73.20% of the stock is currently owned by 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.