Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Amplitude (NASDAQ:AMPL) had its price target increased by analysts at Piper Sandler from $15.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 26.90% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.50 to $16.00 in a report on Thursday. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Friday, December 13th. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $17.00 in a research note on Thursday. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. Finally, Scotiabank boosted their target price on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Three equities 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Amplitude Price Performance

NASDAQ:AMPL opened at $13.40 on Thursday. The company’s 50-day moving average is $11.49 and its two-hundred day moving average is $10.07. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -17.40 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm 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%. As a group, equities analysts anticipate that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the stock in a transaction 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 sale, the director now directly owns 276,208 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after buying an additional 770,227 shares in the last quarter. Sunriver Management LLC lifted its stake in Amplitude by 24.3% in the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after acquiring an additional 737,600 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock worth $13,300,000 after acquiring an additional 535,624 shares in the last quarter. Vanguard Group Inc. grew its holdings in Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amplitude in the 4th quarter valued at approximately $4,320,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.