Amplitude (NASDAQ:AMPL) Reaches New 1-Year Low at $8.05

Amplitude, Inc. (NASDAQ:AMPL) hit a new 52-week low on Wednesday . The stock traded as low as $8.05 and last traded at $8.06, with a volume of 43921 shares traded. The stock had previously closed at $8.21.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered their target price on Amplitude from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, May 10th. UBS Group dropped their price objective on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, KeyCorp initiated coverage on shares of Amplitude in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.20.

Amplitude Price Performance

The stock has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $10.80.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The firm had revenue of $72.62 million for the quarter, compared to analysts’ expectations of $72.25 million. Equities research analysts anticipate that Amplitude, Inc. will post -0.61 earnings per share for the current year.

Insider Buying and Selling

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $9.16, for a total transaction of $32,197.40. Following the sale, the director now owns 82,820 shares in the company, valued at $758,631.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 28.71% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its position in shares of Amplitude by 918.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock worth $2,111,000 after buying an additional 174,967 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Amplitude by 3,607.6% in the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after acquiring an additional 836,535 shares during the period. MQS Management LLC bought a new position in shares of Amplitude during the first quarter valued at approximately $120,000. Bessemer Group Inc. acquired a new stake in shares of Amplitude during the 1st quarter worth approximately $177,000. Finally, Vanguard Group Inc. boosted its position in Amplitude by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock valued at $88,214,000 after purchasing an additional 264,477 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.