Amplitude (NASDAQ:AMPL) Shares Up 11.7% on Analyst Upgrade

Amplitude, Inc. (NASDAQ:AMPL) rose 11.7% on Thursday after Piper Sandler raised their price target on the stock from $14.00 to $15.00. Piper Sandler currently has an overweight rating on the stock. Amplitude traded as high as $10.53 and last traded at $10.52. Approximately 418,857 shares changed hands during trading, a decline of 38% from the average daily volume of 673,071 shares. The stock had previously closed at $9.42.

AMPL has been the topic of several other research reports. Bank of America lifted their target price on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 20th. DA Davidson cut their target price on Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley dropped their price objective on Amplitude from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Citigroup raised their target price on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Finally, UBS Group upped their price target on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note 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, the stock has an average rating of “Moderate Buy” and an average price target of $13.50.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in Amplitude in the first quarter valued at approximately $20,292,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Amplitude by 9.4% during the fourth 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 in the last quarter. Sunriver Management LLC boosted its holdings in 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 acquiring an additional 737,600 shares during the period. Vanguard Group Inc. grew its holdings in Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after purchasing an additional 447,277 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amplitude during the fourth quarter worth about $4,320,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Stock Performance

The company has a market capitalization of $1.04 billion, a PE ratio of -13.64 and a beta of 1.40. The company has a 50 day moving average price of $10.11 and a 200 day moving average price of $10.72.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The company had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. On average, equities analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

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.