Amplitude (NASDAQ:AMPL) Price Target Raised to $12.00 at Morgan Stanley

Amplitude (NASDAQ:AMPL) had its price objective raised by Morgan Stanley from $11.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 12.78% from the company’s current price.

Several other research firms also recently weighed in on AMPL. Scotiabank decreased their price target on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. UBS Group decreased their target price on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup upped their price target on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. DA Davidson reduced their price objective on Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Amplitude in a report on Thursday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Amplitude Stock Up 1.3 %

AMPL opened at $10.64 on Friday. The company has a market cap of $1.05 billion, a PE ratio of -13.82 and a beta of 1.40. Amplitude has a twelve month low of $7.37 and a twelve month 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.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) 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 firm had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the transaction, the director now owns 286,859 shares of the company’s stock, valued at $3,671,795.20. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 23.83% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of institutional investors and hedge funds have recently made changes to their positions in AMPL. Headlands Technologies LLC purchased a new position in shares of Amplitude during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC lifted its stake in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after buying an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP purchased a new stake in shares of Amplitude in the 4th quarter valued at $102,000. 73.20% of the stock is 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.