Amplitude (NASDAQ:AMPL) Price Target Raised to $16.00

Amplitude (NASDAQ:AMPL) had its price objective raised by Bank of America from $14.00 to $16.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

AMPL has been the topic of several other reports. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Friday, December 13th. DA Davidson raised shares of Amplitude from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.50 to $16.00 in a research report on Thursday. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. 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, Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and increased their price objective for the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

Amplitude Stock Performance

AMPL opened at $13.40 on Thursday. The firm’s fifty day moving average is $11.49 and its two-hundred day moving average is $10.08. The firm has a market cap of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37. 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 firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative return on equity of 32.45% and a negative net margin of 31.52%. Equities analysts forecast that Amplitude will post -0.61 EPS for the current fiscal year.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Occudo Quantitative Strategies LP grew its position in shares of Amplitude by 2.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after acquiring an additional 832 shares during the period. Rhumbline Advisers grew its position in shares of Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after acquiring an additional 1,040 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after acquiring an additional 1,492 shares during the period. Legal & General Group Plc grew its position in shares of Amplitude by 2.6% in the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock valued at $876,000 after acquiring an additional 2,111 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Amplitude by 13.5% in the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after acquiring an additional 2,324 shares during the period. Institutional investors own 73.20% of the company’s stock.

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.