DA Davidson Lowers Amplitude (NASDAQ:AMPL) Price Target to $12.00

Amplitude (NASDAQ:AMPL) had its price target dropped by equities research analysts at DA Davidson from $16.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 41.34% from the company’s current price.

Several other equities analysts have also recently issued reports on AMPL. UBS Group boosted their price target on shares of Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Citigroup upped their target price on Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Amplitude in a research report on Tuesday, March 11th. Bank of America upped their price target on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their target price on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.60.

Amplitude Price Performance

AMPL opened at $8.49 on Monday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.03 and a beta of 1.40. Amplitude has a one year low of $7.37 and a one year high of $14.88. The business has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $10.71.

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 during the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. As a group, sell-side analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the sale, the director now directly owns 286,859 shares in the company, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently made changes to their positions in AMPL. Occudo Quantitative Strategies LP raised its holdings in Amplitude by 2.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock worth $436,000 after acquiring an additional 832 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Amplitude by 1.0% in the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after purchasing an additional 1,040 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Amplitude by 2.6% during the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock valued at $876,000 after buying an additional 2,111 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Amplitude by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company’s stock worth $468,000 after buying an additional 2,512 shares in the last quarter. Hedge funds and other 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.