UBS Group Cuts Amplitude (NASDAQ:AMPL) Price Target to $11.00

Amplitude (NASDAQ:AMPL) had its price target cut by UBS Group from $13.00 to $11.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently commented on AMPL. Robert W. Baird lowered their target price on shares of Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley dropped their price objective on Amplitude from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Bank of America boosted their target price on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Baird R W upgraded shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Citigroup boosted their price objective on shares of Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amplitude presently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Amplitude Stock Performance

Shares of AMPL stock opened at $10.64 on Thursday. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The company has a 50 day moving average price of $10.08 and a 200 day moving average price of $10.74. The stock has a market capitalization of $1.05 billion, a P/E ratio of -13.82 and a beta of 1.40.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The company had revenue of $79.95 million for the quarter, compared to analysts’ expectations of $79.81 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric Vishria sold 35,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Amplitude by 371.7% during the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after buying an additional 101,289 shares in the last quarter. JPMorgan Chase & Co. raised its position in Amplitude by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after acquiring an additional 23,526 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Amplitude in the fourth quarter valued at $1,498,000. SG Americas Securities LLC boosted its position in shares of Amplitude by 15.7% during the 4th quarter. SG Americas Securities LLC now owns 42,107 shares of the company’s stock worth $444,000 after purchasing an additional 5,726 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Amplitude by 58.3% during the 4th quarter. Blue Trust Inc. now owns 30,902 shares of the company’s stock worth $326,000 after purchasing an additional 11,384 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.