Amplitude (NASDAQ:AMPL) Stock Rating Upgraded by Robert W. Baird

Amplitude (NASDAQ:AMPL) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $17.00 price objective on the stock, up from their prior price objective of $12.00. Robert W. Baird’s target price suggests a potential upside of 26.90% from the company’s previous close.

AMPL has been the topic of several other research reports. DA Davidson upgraded shares of Amplitude to a “hold” rating in a research report on Monday, February 10th. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $11.00 to $15.00 in a research report on Monday, January 6th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 13th. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $11.00 in a report on Monday, January 13th. Finally, Scotiabank lifted their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Three research 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 company. According to data from MarketBeat.com, Amplitude currently has an average rating of “Moderate Buy” and an average price target of $14.88.

Amplitude Stock Performance

AMPL opened at $13.40 on Thursday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -17.40 and a beta of 1.37. The company’s 50-day simple moving average is $11.49 and its two-hundred day simple moving average is $10.07. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.88.

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

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total value of $42,756.00. Following the completion of the transaction, the director now directly owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. The trade was 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. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently made changes to their positions in AMPL. Occudo Quantitative Strategies LP grew its position in Amplitude by 2.1% during 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 period. Rhumbline Advisers raised its position in shares of Amplitude by 1.0% in the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after acquiring an additional 1,040 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after acquiring an additional 1,492 shares during the period. Legal & General Group Plc raised its holdings 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 period. Finally, Blue Trust Inc. raised its holdings in Amplitude by 13.5% in the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after purchasing an additional 2,324 shares during the period. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.