Amplitude’s (AMPL) “Buy” Rating Reiterated at Needham & Company LLC

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 50.38% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Bank of America raised 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. Scotiabank decreased their price objective on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. DA Davidson decreased their price target on Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group boosted their price target on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Stock Up 1.3 %

Shares of NASDAQ:AMPL opened at $10.64 on Thursday. The firm has a market cap of $1.05 billion, a PE ratio of -13.82 and a beta of 1.40. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.88. The company’s 50 day moving average price is $10.08 and its two-hundred day moving average price is $10.73.

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

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 35,000 shares of Amplitude stock in a transaction dated Monday, February 24th. The stock was 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 owns 286,859 shares of the company’s stock, valued at $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Amplitude in the fourth quarter worth $38,000. Aquatic Capital Management LLC increased its position in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board raised its stake in Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Amplitude by 22.3% in the 4th 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 during the period. Finally, Meros Investment Management LP purchased a new stake in shares of Amplitude in the 4th quarter worth about $102,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.