UBS Group cuts Amplitude (NASDAQ:AMPL) price target to $22.00

Amplitude (NASDAQ:AMPL – Get Note) saw its target price lowered by research analysts at UBS Group from $24.00 to $22.00 in a research report released on Thursday, Marketbeat reports. The company currently has a “buy” rating on the stock. The UBS Group price target indicates a potential upside of 26.29% from the company’s previous close.

Several other research companies have also recently commented on the AMPL. Scotiabank began covering Amplitude shares in a research report on Wednesday, June 8. They set an “outperform” rating and a target price of $25.00 on the stock. Morgan Stanley lowered its price target on shares of Amplitude from $23.00 to $18.00 and set an “equal weight” rating on the stock in a Thursday, July 14 research report. Citigroup raised its price target on Amplitude shares from $22.00 to $25.00 in a research report Thursday. Piper Sandler lowered her price target on Amplitude shares from $25.00 to $21.00 and set an “overweight” rating for the company in a Wednesday, July 20 research note. Finally, KeyCorp cut its price target on Amplitude shares from $24.00 to $21.00 and set an “overweight” rating on the stock in a Friday, July 22 report. Three research analysts rated the stock with a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Magnitude Price Performance

NASDAQ:AMPL traded at $1.30 during Thursday’s midday session, hitting $17.42. 36,088 shares of the company were traded, against an average volume of 438,484. Amplitude has a one-year low of $13.42 and a one-year high of $87.98. The company’s fifty-day simple moving average is $16.08 and its two-hundred-day simple moving average is $20.91.

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Amplitude (NASDAQ:AMPL – Get Rating) last reported results on Wednesday, August 3. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. As a group, sell-side analysts expect Amplitude to post -0.87 earnings per share for the current year.

Hedge funds weigh on amplitude

Institutional investors and hedge funds have recently increased or reduced their stake in the company. Grassi Investment Management increased its holding in Amplitude shares by 7.1% during the second quarter. Grassi Investment Management now owns 16,500 shares of the company valued at $236,000 after acquiring an additional 1,100 shares in the last quarter. Mission Creek Capital Partners Inc. increased its stake in Amplitude by 0.7% in Q1. Mission Creek Capital Partners Inc. now owns 164,507 shares of the company worth $3,032,000 after purchasing an additional 1,223 shares last quarter. Ieq Capital LLC increased its position in Amplitude by 2.6% in the first quarter. Ieq Capital LLC now owns 49,392 shares of the company worth $910,000 after purchasing an additional 1,233 shares in the last quarter. James Investment Research Inc. increased its position in Amplitude by 282.4% in the second quarter. James Investment Research Inc. now owns 1,847 shares of the company worth $26,000 after buying an additional 1,364 shares in the last quarter. Finally, US Bancorp DE bought a new position in Amplitude in Q1 worth around $28,000. Hedge funds and other institutional investors hold 79.32% of the company’s shares.

About amplitude

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Amplitude, Inc provides a digital optimization system to analyze customer behavior in digital products in the United States and internationally. It offers amplitude analyzes for insights into customer behavior; Amplitude Recommend, a no-code personalization solution that helps increase customer engagement by tailoring digital products and campaigns to each user based on their behavior; Amplitude Experiment, an integrated solution that enables teams to determine and deliver product experiences to their customers through A/B testing and controlled feature releases; Amplitude Behavioral Graph, a proprietary database for in-depth, real-time interactive behavioral analysis and behavior-based personalization – instantly joining, analyzing and correlating all customer actions to results, such as engagement, growth and fidelity; and data management, a real-time data layer for planning, integrating, and managing data sources to build a foundation with solutions for identity resolution, enterprise-level security, and confidentiality.

Further reading

Analyst Recommendations for Amplitude (NASDAQ:AMPL)

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Richard L. Militello