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

Amplitude (NASDAQ:AMPL) had its target price upped by Bank of America from $14.00 to $16.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

AMPL has been the subject of several other research reports. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $11.00 in a report on Monday, January 13th. Scotiabank increased 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. UBS Group raised their price target on Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. DA Davidson raised Amplitude from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.50 to $16.00 in a report on Thursday. Finally, Piper Sandler increased their target price on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Amplitude Trading Up 21.9 %

NASDAQ AMPL opened at $14.44 on Thursday. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The stock has a market cap of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37. The stock’s 50 day moving average is $11.46 and its 200 day moving average is $10.03.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. The company had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. On average, analysts forecast that Amplitude will post -0.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Eric Vishria sold 6,437 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 279,771 shares in the company, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Amplitude by 371.7% during the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after buying an additional 101,289 shares during the period. M&T Bank Corp lifted its stake in shares of Amplitude by 86.8% during the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after acquiring an additional 72,806 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after acquiring an additional 23,526 shares during the last quarter. Walleye Capital LLC purchased a new position in Amplitude during the 3rd quarter valued at $726,000. Finally, Kera Capital Partners Inc. bought a new position in Amplitude in the 4th quarter valued at $1,498,000. 73.20% of the stock is currently owned by institutional investors.

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.