Amplitude (NASDAQ:AMPL) Upgraded to “Equal Weight” at Morgan Stanley

Amplitude (NASDAQ:AMPL) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday,Benzinga reports. The firm presently has a $11.00 price objective on the stock, up from their previous price objective of $10.00. Morgan Stanley’s price target indicates a potential upside of 7.74% from the stock’s previous close.

A number of other equities analysts have also commented on AMPL. Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $15.00 in a research note on Monday, January 6th. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Friday, December 13th. Scotiabank lifted their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Robert W. Baird boosted their price target on Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Amplitude currently has an average rating of “Hold” and a consensus target price of $12.43.

Amplitude Trading Down 4.3 %

NASDAQ:AMPL opened at $10.21 on Monday. The stock’s 50-day moving average is $10.69 and its 200-day moving average is $9.35. The stock has a market cap of $965.77 million, a P/E ratio of -15.24 and a beta of 1.34. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.42.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total transaction of $254,500.00. Following the transaction, the director now directly owns 286,208 shares of the company’s stock, valued at $2,913,597.44. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Amplitude during the second quarter worth approximately $41,000. Principal Financial Group Inc. bought a new stake in Amplitude during the second quarter worth $92,000. Intech Investment Management LLC bought a new stake in Amplitude during the third quarter worth $128,000. XTX Topco Ltd bought a new stake in Amplitude during the second quarter worth $133,000. Finally, MQS Management LLC grew its holdings in Amplitude by 69.4% during the second quarter. MQS Management LLC now owns 18,617 shares of the company’s stock worth $166,000 after buying an additional 7,625 shares in the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

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.