Amplitude (NASDAQ:AMPL) Upgraded by DA Davidson to “Buy” Rating

DA Davidson upgraded shares of Amplitude (NASDAQ:AMPL) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat reports. They currently have $16.00 target price on the stock, up from their prior target price of $12.50.

Other analysts have also recently issued reports about the stock. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and upped their price target for the company from $11.00 to $15.00 in a research note on Monday, January 6th. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 13th. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $17.00 in a research note on Thursday. Finally, Scotiabank increased their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Three equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.88.

Amplitude Trading Down 7.2 %

Shares of AMPL stock opened at $13.40 on Thursday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -17.40 and a beta of 1.37. The firm’s 50 day moving average is $11.49 and its 200 day moving average is $10.08. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The business had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.45%. On average, equities analysts predict that Amplitude will post -0.61 EPS for the current year.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.02, for a total transaction of $77,372.74. Following the transaction, the director now owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after purchasing an additional 770,227 shares during the period. Sunriver Management LLC lifted its position in shares of Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after purchasing an additional 737,600 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of Amplitude by 56.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock worth $13,300,000 after purchasing an additional 535,624 shares during the period. Vanguard Group Inc. lifted its position in shares of Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after purchasing an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amplitude in the 4th quarter worth about $4,320,000. Institutional investors own 73.20% of the company’s stock.

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.