Amplitude (NASDAQ:AMPL) Receives “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Amplitude (NASDAQ:AMPL) in a research report released on Monday morning,Benzinga reports. DA Davidson currently has a $16.00 target price on the stock.

A number of other research firms also recently commented on AMPL. Benchmark reiterated a “buy” rating on shares of Amplitude in a research report on Friday, July 11th. Piper Sandler upped their price target on shares of Amplitude from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Needham & Company LLC increased their price objective on shares of Amplitude from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Bank of America boosted their target price on shares of Amplitude from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Finally, Wall Street Zen cut shares of Amplitude from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

Amplitude Stock Performance

AMPL stock opened at $10.03 on Monday. The company has a market capitalization of $1.02 billion, a PE ratio of -13.20 and a beta of 1.52. The company’s fifty day moving average price is $11.57 and its 200-day moving average price is $11.31. Amplitude has a one year low of $7.55 and a one year high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $83.27 million for the quarter, compared to the consensus estimate of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In other news, Director Erica Schultz sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $11.06, for a total value of $110,600.00. Following the completion of the sale, the director owned 107,406 shares in the company, valued at approximately $1,187,910.36. This trade represents a 8.52% 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. Insiders have sold a total of 25,000 shares of company stock valued at $290,750 over the last quarter. Corporate insiders own 23.83% of the company’s stock.

Institutional Trading of Amplitude

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Amplitude by 57.8% in the second quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock worth $64,000 after purchasing an additional 1,879 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of 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 buying an additional 1,455 shares during the period. GAMMA Investing LLC lifted its stake in shares of Amplitude by 45,828.6% during the 1st quarter. GAMMA Investing LLC now owns 6,430 shares of the company’s stock worth $631,000 after acquiring an additional 6,416 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Amplitude by 86.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,477 shares of the company’s stock worth $130,000 after acquiring an additional 4,858 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Amplitude during the 1st quarter valued at $107,000. 73.20% of the stock is owned by hedge funds and other 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.