Amplitude (NASDAQ:AMPL) Raised to “Outperform” at Robert W. Baird

Amplitude (NASDAQ:AMPL) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has a $17.00 price objective on the stock, up from their previous price objective of $12.00. Robert W. Baird’s target price indicates a potential upside of 26.90% from the stock’s current price.

Several other brokerages have also issued reports on AMPL. Scotiabank lifted their price target on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 13th. Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $10.00 to $11.00 in a research note on Monday, January 13th. DA Davidson raised Amplitude to a “hold” rating in a research note on Monday, February 10th. Finally, Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $11.00 to $15.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.88.

Amplitude Price Performance

Shares of AMPL opened at $13.40 on Thursday. The firm has a market capitalization of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The company’s 50-day moving average is $11.49 and its 200-day moving average is $10.07.

Amplitude (NASDAQ:AMPL) last announced its 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). Amplitude had a negative return on equity of 32.45% and a negative net margin of 31.52%. The business had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. Analysts predict that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now owns 279,771 shares in the company, valued at $3,362,847.42. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Amplitude by 9.4% during 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. Sunriver Management LLC raised its stake in shares of Amplitude by 24.3% during the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after purchasing an additional 737,600 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after purchasing an additional 535,624 shares during the period. Vanguard Group Inc. raised its stake in shares of Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after purchasing an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Amplitude during the 4th quarter valued at $4,320,000. 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.