Amplitude (NASDAQ:AMPL) Sets New 12-Month High After Analyst Upgrade

Amplitude, Inc. (NASDAQ:AMPL)’s stock price hit a new 52-week high during trading on Thursday after Baird R W upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $14.88 and last traded at $13.54, with a volume of 568966 shares changing hands. The stock had previously closed at $11.85.

AMPL has been the subject of a number of other research reports. Morgan Stanley increased their price target on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler raised their price objective on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank raised their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. UBS Group raised their price objective on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, DA Davidson raised shares of Amplitude from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.50 to $16.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now directly owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Amplitude during the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC increased its holdings in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after buying an additional 2,647 shares during the period. Canada Pension Plan Investment Board increased its holdings in Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. increased its holdings in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after buying an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new position in Amplitude during the fourth quarter valued at approximately $102,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude Price Performance

The company has a market capitalization of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37. The company’s fifty day moving average is $11.49 and its 200-day moving average is $10.07.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The business had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.45%. Equities research analysts forecast that Amplitude, Inc. will post -0.61 EPS for the current fiscal year.

Amplitude Company Profile

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.