Amplitude (NASDAQ:AMPL) Price Target Raised to $15.00

Amplitude (NASDAQ:AMPL) had its price objective hoisted by stock analysts at Robert W. Baird from $14.00 to $15.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 26.16% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on AMPL. UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Amplitude in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. BTIG Research assumed coverage on Amplitude in a research note on Tuesday. They issued a “buy” rating and a $14.00 price objective for the company. Finally, DA Davidson restated a “buy” rating and set a $16.00 target price on shares of Amplitude in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Amplitude Stock Up 3.5%

Shares of AMPL opened at $11.89 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -14.86 and a beta of 1.51. Amplitude has a 52-week low of $7.55 and a 52-week high of $14.88. The stock has a 50 day moving average price of $10.36 and a 200 day moving average price of $11.32.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The company had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $86.29 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Activity at Amplitude

In other Amplitude news, CEO Spenser Skates sold 400,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $10.99, for a total value of $4,396,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erica Schultz sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.88, for a total transaction of $108,800.00. Following the transaction, the director owned 114,906 shares of the company’s stock, valued at $1,250,177.28. This trade represents a 8.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 430,000 shares of company stock worth $4,708,300 in the last three months. Insiders own 23.83% of the company’s stock.

Institutional Trading of Amplitude

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Amplitude in the third quarter valued at about $32,000. State of Alaska Department of Revenue bought a new position in Amplitude during the 3rd quarter worth approximately $48,000. Russell Investments Group Ltd. boosted its holdings in Amplitude by 33.3% in the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after purchasing an additional 1,455 shares during the period. Osaic Holdings Inc. lifted its position in shares of Amplitude by 57.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock worth $64,000 after buying an additional 1,879 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of Amplitude in the 3rd quarter valued at about $112,000. Hedge funds and other 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.