Scotiabank slashes price target on Amplitude Inc. [AMPL] – find out why.

Amplitude Inc. [NASDAQ: AMPL] surged by $0.06 during the normal trading session on Friday and reaching a high of $15.31 during the day while it closed the day at $14.85. The company report on August 3, 2022 that Amplitude Announces Second Quarter 2022 Financial Results.

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Revenue of $58.1 million, up 48% year-over-year.

Current Remaining Performance Obligations of $170.2 million, up 46% year over year.

Amplitude Inc. stock has also loss -5.23% of its value over the past 7 days. However, AMPL stock has declined by -19.90% in the 3 months of the year. Over the past six months meanwhile, it has lost -23.14% and lost -71.95% year-on date.

The market cap for AMPL stock reached $1.75 billion, with 111.04 million shares outstanding and 62.74 million shares in the current float. Compared to the average trading volume of 727.30K shares, AMPL reached a trading volume of 348033 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Amplitude Inc. [AMPL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMPL shares is $21.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMPL stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for Amplitude Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on June 09, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on May 18, 2022, representing the official price target for Amplitude Inc. stock. Previously, the target price had yet another raise to $80, while Citigroup analysts kept a Buy rating on AMPL stock.

The Average True Range (ATR) for Amplitude Inc. is set at 0.98, with the Price to Sales ratio for AMPL stock in the period of the last 12 months amounting to 8.47. The Price to Book ratio for the last quarter was 5.54, with the Price to Cash per share for the same quarter was set at 2.64.

AMPL stock trade performance evaluation

Amplitude Inc. [AMPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.23. With this latest performance, AMPL shares dropped by -18.23% in over the last four-week period, additionally sinking by -23.14% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMPL stock in for the last two-week period is set at 40.31, with the RSI for the last a single of trading hit 34.86, and the three-weeks RSI is set at 43.27 for Amplitude Inc. [AMPL]. The present Moving Average for the last 50 days of trading for this stock 15.96, while it was recorded at 15.01 for the last single week of trading, and 27.66 for the last 200 days.

Amplitude Inc. [AMPL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Amplitude Inc. [AMPL] shares currently have an operating margin of -44.33 and a Gross Margin at +69.05. Amplitude Inc.’s Net Margin is presently recorded at -44.83.

Return on Equity for this stock declined to -35.10, with Return on Assets sitting at -26.06.

Amplitude Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

Earnings per share (EPS) analysis for Amplitude Inc. [AMPL] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMPL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amplitude Inc. go to 3.60%.

Amplitude Inc. [AMPL]: Insider Ownership positions

There are presently around $652 million, or 69.00% of AMPL stock, in the hands of institutional investors. The top three institutional holders of AMPL stocks are: BATTERY MANAGEMENT CORP. with ownership of 6,076,345, which is approximately 464.535% of the company’s market cap and around 3.20% of the total institutional ownership; INSTITUTIONAL VENTURE MANAGEMENT XV, LLC, holding 5,695,531 shares of the stock with an approximate value of $84.58 million in AMPL stocks shares; and VANGUARD GROUP INC, currently with $61.04 million in AMPL stock with ownership of nearly 4.785% of the company’s market capitalization.

Positions in Amplitude Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 86 institutional holders increased their position in Amplitude Inc. [NASDAQ:AMPL] by around 17,794,626 shares. Additionally, 41 investors decreased positions by around 7,652,205 shares, while 23 investors held positions by with 18,430,786 shares. The mentioned changes placed institutional holdings at 43,877,617 shares, according to the latest SEC report filing. AMPL stock had 50 new institutional investments in for a total of 3,069,929 shares, while 21 institutional investors sold positions of 6,000,635 shares during the same period.


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