Amplitude, Inc. (NASDAQ:AMPL) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Amplitude, Inc. (NASDAQ:AMPL) have been assigned a consensus rating of “Reduce” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.33.

AMPL has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Robert W. Baird dropped their target price on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, UBS Group dropped their target price on shares of Amplitude from $11.00 to $9.00 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 have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Amplitude by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock worth $88,214,000 after purchasing an additional 264,477 shares in the last quarter. Janus Henderson Group PLC raised its position in Amplitude by 3,607.6% in the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock worth $9,353,000 after buying an additional 836,535 shares during the last quarter. Renaissance Technologies LLC raised its position in Amplitude by 19.5% in the 2nd quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock worth $3,677,000 after buying an additional 67,500 shares during the last quarter. TD Asset Management Inc raised its position in Amplitude by 24.2% in the 2nd quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock worth $2,001,000 after buying an additional 43,780 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in 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. Institutional investors own 73.20% of the company’s stock.

Amplitude Price Performance

Shares of Amplitude stock opened at $9.01 on Tuesday. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42. The firm has a market cap of $1.10 billion, a PE ratio of -12.34 and a beta of 1.33. The company has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $8.83.

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