Amplitude (NASDAQ:AMPL) Upgraded at DA Davidson

DA Davidson upgraded shares of Amplitude (NASDAQ:AMPL) from a neutral rating to a buy rating in a research report sent to investors on Thursday, Marketbeat.com reports. DA Davidson currently has $16.00 price objective on the stock, up from their previous price objective of $12.50.

AMPL has been the subject of several other reports. Scotiabank lifted their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target 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 lifted 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 lifted their price target for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Finally, Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $15.00 in a research note on Monday, January 6th. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.88.

Amplitude Stock Down 7.2 %

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

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. As a group, equities analysts expect that Amplitude will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,314,496. This represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently added to or reduced their stakes in AMPL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 valued at $1,539,000 after acquiring an additional 11,765 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Amplitude in the fourth quarter valued at about $716,000. Thrive Capital Management LLC purchased a new position in Amplitude in the fourth quarter valued at about $904,000. State of Wyoming boosted its stake in Amplitude by 991.2% in the fourth quarter. State of Wyoming now owns 30,020 shares of the company’s stock valued at $317,000 after acquiring an additional 27,269 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Amplitude in the fourth quarter valued at about $4,320,000. 73.20% of the stock is owned by institutional investors.

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.