Brokerages Set Amplitude, Inc. (NASDAQ:AMPL) Price Target at $10.33

Amplitude, Inc. (NASDAQ:AMPL) has been given a consensus recommendation of “Reduce” by the seven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $10.33.

AMPL has been the topic of several recent research reports. UBS Group cut their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Piper Sandler cut their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Robert W. Baird cut their price target on Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th.

Hedge Funds Weigh In On Amplitude

A number of hedge funds and other institutional investors have recently bought and sold shares of AMPL. Headlands Technologies LLC purchased a new stake in Amplitude in the 1st quarter valued at approximately $32,000. Russell Investments Group Ltd. purchased a new stake in shares of Amplitude in the first quarter valued at approximately $45,000. Quest Partners LLC purchased a new stake in shares of Amplitude in the second quarter valued at approximately $41,000. ANTIPODES PARTNERS Ltd acquired a new position in Amplitude during the first quarter worth $95,000. Finally, Principal Financial Group Inc. purchased a new position in Amplitude in the second quarter worth $92,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Amplitude Stock Down 1.7 %

NASDAQ:AMPL opened at $8.54 on Friday. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.42. The company has a market capitalization of $1.04 billion, a P/E ratio of -11.70 and a beta of 1.33. The stock’s fifty day moving average is $8.61 and its two-hundred day moving average is $9.00.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The firm had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.98 million. Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. Amplitude’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. Sell-side analysts anticipate that Amplitude will post -0.65 earnings per share for the current fiscal year.

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.