Amplitude, Inc. (NASDAQ:AMPL) Given Consensus Rating of “Moderate Buy” by Brokerages

Amplitude, Inc. (NASDAQ:AMPL) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.50.

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Benchmark reaffirmed a “buy” rating on shares of Amplitude in a research report on Friday, July 11th. Scotiabank decreased their price target on Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley raised their price target on Amplitude from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, DA Davidson cut their price objective on Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, April 14th.

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 8,502 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $106,189.98. Following the sale, the director owned 79,152 shares in the company, valued at approximately $988,608.48. This trade represents a 9.70% 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. Also, Director Erica Schultz sold 26,394 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the transaction, the director directly owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,911 shares of company stock valued at $825,102. 23.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Amplitude during the fourth quarter valued at about $38,000. Aquatic Capital Management LLC raised its holdings in Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after acquiring an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Amplitude by 33.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after acquiring an additional 1,455 shares during the last quarter. Canada Pension Plan Investment Board grew 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 purchasing an additional 5,100 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings 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 acquiring an additional 1,492 shares during the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

Amplitude Stock Down 0.5%

Shares of AMPL stock opened at $12.72 on Thursday. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.88. The business has a 50-day simple moving average of $12.45 and a 200-day simple moving average of $11.50. The stock has a market cap of $1.26 billion, a PE ratio of -16.74 and a beta of 1.54.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The firm had revenue of $79.95 million for the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. Amplitude’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Sell-side analysts anticipate that Amplitude 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.