Amplitude (NASDAQ:AMPL) Hits New 52-Week High Following Analyst Upgrade

Amplitude, Inc. (NASDAQ:AMPL) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $11.00 to $13.00. Morgan Stanley currently has an equal weight rating on the stock. Amplitude traded as high as $14.88 and last traded at $13.54, with a volume of 568966 shares. The stock had previously closed at $11.85.

A number of other brokerages have also issued reports on AMPL. Piper Sandler increased their price objective on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank increased 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. Bank of America raised their target price on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $17.00 in a research note on Thursday. Finally, UBS Group lifted 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Amplitude presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the sale, the director now directly owns 279,771 shares in the company, valued at $3,362,847.42. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

Several institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Amplitude in the fourth quarter valued at about $38,000. Aquatic Capital Management LLC grew its stake 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 purchasing an additional 2,647 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 valued at $75,000 after purchasing an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Amplitude by 22.3% in the fourth 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 last quarter. Finally, Meros Investment Management LP purchased a new position in Amplitude in the fourth quarter valued at about $102,000. 73.20% of the stock is currently owned by institutional investors.

Amplitude Stock Up 21.9 %

The firm has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $10.03. The company has a market cap of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its earnings results 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). Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. The company had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. As a group, equities analysts anticipate that Amplitude, Inc. will post -0.67 EPS for the current 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.