DA Davidson Issues Pessimistic Forecast for Amplitude (NASDAQ:AMPL) Stock Price

Amplitude (NASDAQ:AMPL) had its target price cut by stock analysts at DA Davidson from $16.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 41.34% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. 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. UBS Group increased their target price on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Amplitude in a research note on Tuesday, March 11th. Baird R W raised shares of Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Morgan Stanley boosted their target price on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amplitude presently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

Amplitude Price Performance

NASDAQ AMPL opened at $8.49 on Monday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.03 and a beta of 1.40. The business’s fifty day moving average is $11.35 and its 200-day moving average is $10.71. Amplitude has a one year low of $7.37 and a one year high of $14.88.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The company had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Research analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 3,563 shares of Amplitude stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the sale, the director now directly owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Amplitude by 9.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after buying an additional 770,227 shares in the last quarter. Sunriver Management LLC raised its stake in shares of Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after acquiring an additional 737,600 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Amplitude in the 4th quarter valued at $4,320,000. Finally, Monimus Capital Management LP bought a new position in shares of Amplitude during the 4th quarter valued at $3,630,000. Institutional investors 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.