Robert W. Baird Cuts Amplitude (NASDAQ:AMPL) Price Target to $14.00

Amplitude (NASDAQ:AMPL) had its price objective decreased by Robert W. Baird from $17.00 to $14.00 in a research report report published on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on AMPL. Scotiabank lowered their price target on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Bank of America upped their price objective on Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler boosted their target price on shares of Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday. DA Davidson lowered their price target on shares of Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Amplitude in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amplitude currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Price Performance

Amplitude stock opened at $10.64 on Thursday. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The firm has a market capitalization of $1.05 billion, a PE ratio of -13.82 and a beta of 1.40. The company’s 50-day moving average is $10.08 and its 200-day moving average is $10.74.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 business had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Activity

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the business’s 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 transaction, the director now owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. The trade was 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 the SEC website. Corporate insiders own 23.83% 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 stock. Barclays PLC boosted its position in Amplitude by 371.7% in the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after buying an additional 101,289 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Amplitude by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company’s stock valued at $7,210,000 after purchasing an additional 31,800 shares during the last quarter. M&T Bank Corp raised its position in Amplitude by 16.6% in the fourth quarter. M&T Bank Corp now owns 182,712 shares of the company’s stock valued at $1,927,000 after purchasing an additional 26,024 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Amplitude by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after buying an additional 23,526 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after buying an additional 52,033 shares during the last quarter. 73.20% of the stock is owned by 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.