Amplitude (NASDAQ:AMPL) Price Target Raised to $13.00

Amplitude (NASDAQ:AMPL) had its price objective hoisted by Morgan Stanley from $11.00 to $13.00 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

AMPL has been the subject of several other research reports. UBS Group lifted their target price on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” 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 company a “sector perform” rating in a research report on Friday, November 8th. DA Davidson upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.50 to $16.00 in a research report on Thursday. Bank of America raised their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $17.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amplitude currently has an average rating of “Moderate Buy” and a consensus price target of $14.88.

Amplitude Stock Down 7.2 %

AMPL opened at $13.40 on Thursday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -17.40 and a beta of 1.37. The firm has a 50-day moving average price of $11.49 and a 200-day moving average price of $10.08. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88.

Amplitude (NASDAQ:AMPL) last posted its earnings results 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). The business had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative return on equity of 32.45% and a negative net margin of 31.52%. On average, sell-side analysts expect that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the business’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 value of $42,756.00. Following the completion of the sale, the director now directly owns 276,208 shares in the company, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of hedge funds have recently made changes to their positions in AMPL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amplitude by 8.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,843 shares of the company’s stock worth $1,539,000 after buying an additional 11,765 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Amplitude in the fourth quarter worth $716,000. Thrive Capital Management LLC purchased a new position in shares of Amplitude in the fourth quarter worth $904,000. State of Wyoming increased its stake in shares of Amplitude by 991.2% in the fourth quarter. State of Wyoming now owns 30,020 shares of the company’s stock worth $317,000 after buying an additional 27,269 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Amplitude in the fourth quarter worth $4,320,000. 73.20% of the stock is currently owned by institutional investors.

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.