UBS Group Boosts Amplitude (NASDAQ:AMPL) Price Target to $13.00

Amplitude (NASDAQ:AMPL) had its price objective lifted by equities researchers at UBS Group from $10.00 to $13.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential downside of 2.96% from the company’s current price.

AMPL has been the subject of several other reports. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and raised their price target for the company from $12.00 to $17.00 in a report on Thursday. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Scotiabank lifted their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Friday, December 13th. Finally, Piper Sandler raised their price target on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amplitude has an average rating of “Moderate Buy” and a consensus target price of $14.88.

Amplitude Stock Performance

Shares of AMPL opened at $13.40 on Thursday. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The firm’s 50-day simple moving average is $11.49 and its two-hundred day simple moving average is $10.07. The stock has a market cap of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its quarterly 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). Amplitude had a negative return on equity of 32.45% and a negative net margin of 31.52%. The company had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Equities research analysts predict that Amplitude will post -0.61 EPS for the current year.

Insider Activity

In other news, Director Eric Vishria sold 3,563 shares of the firm’s 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 transaction, the director now directly owns 276,208 shares in the company, valued at $3,314,496. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Amplitude

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Amplitude by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after purchasing an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after purchasing an additional 770,227 shares during the period. FMR LLC boosted its holdings in shares of Amplitude by 0.8% in the third quarter. FMR LLC now owns 8,056,003 shares of the company’s stock worth $72,262,000 after buying an additional 64,574 shares during the last quarter. Sunriver Management LLC grew its position in Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after buying an additional 737,600 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Amplitude by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after buying an additional 52,033 shares during the last quarter. Hedge funds and other 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.