Amplitude (NASDAQ:AMPL) Price Target Raised to $15.00

Amplitude (NASDAQ:AMPL) had its target price boosted by Piper Sandler from $14.00 to $15.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on AMPL. Morgan Stanley cut their target price on shares of Amplitude from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Bank of America upped their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $17.00 in a research note on Thursday, February 20th. DA Davidson reduced 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, Scotiabank lowered their price objective on Amplitude from $12.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Trading Up 1.3 %

Shares of AMPL opened at $10.64 on Thursday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The firm has a market capitalization of $1.05 billion, a P/E ratio of -13.82 and a beta of 1.40. The firm’s 50-day moving average is $10.08 and its two-hundred day moving average is $10.74.

Amplitude (NASDAQ:AMPL) last released its quarterly 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 return on equity of 32.24% and a negative net margin of 31.52%. The firm had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Analysts predict that Amplitude will post -0.62 EPS for the current year.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total value 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. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP lifted its stake in Amplitude by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after buying an additional 832 shares during the last quarter. Rhumbline Advisers lifted its position in Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after purchasing an additional 1,040 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Amplitude by 22.3% during 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. Legal & General Group Plc grew its position in Amplitude by 2.6% in the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock worth $876,000 after purchasing an additional 2,111 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amplitude by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company’s stock valued at $468,000 after purchasing an additional 2,512 shares during the period. 73.20% of the stock is currently 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.