Amplitude (NASDAQ:AMPL) Price Target Raised to $13.00

Amplitude (NASDAQ:AMPL) had its price target increased by UBS Group from $10.00 to $13.00 in a research report sent to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Friday, December 13th. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $12.00 to $17.00 in a research note on Thursday. Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Piper Sandler lifted their price target on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.50 to $16.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

Amplitude Trading Down 7.2 %

Shares of AMPL stock opened at $13.40 on Thursday. The business’s 50 day moving average is $11.49 and its two-hundred day moving average is $10.08. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company has a market capitalization of $1.27 billion, a P/E ratio of -17.40 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its quarterly 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 32.45%. The business had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. As a group, equities analysts predict that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

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

Hedge Funds Weigh In On Amplitude

Institutional investors have recently made changes to their positions in the stock. Creative Planning increased its stake in Amplitude by 152.4% in the third quarter. Creative Planning now owns 26,166 shares of the company’s stock valued at $235,000 after purchasing an additional 15,800 shares during the last quarter. Blue Trust Inc. increased its stake in Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after purchasing an additional 2,324 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Amplitude by 418.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 66,592 shares of the company’s stock valued at $597,000 after purchasing an additional 53,741 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in Amplitude in the third quarter valued at $1,597,000. Finally, MQS Management LLC increased its stake in Amplitude by 38.2% in the third quarter. MQS Management LLC now owns 25,729 shares of the company’s stock valued at $231,000 after purchasing an additional 7,112 shares during the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

About Amplitude

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.