Amplitude (NASDAQ:AMPL) Stock Rating Reaffirmed as Buy by BTIG Research

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $19.00 price objective on the stock. BTIG Research‘s price target would indicate a potential upside of 10.40% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded Amplitude from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a report on Wednesday, November 4th. Needham & Company LLC increased their price objective on shares of Amplitude from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Piper Sandler raised their target price on shares of Amplitude from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Finally, Bank of America lifted their target price on shares of Amplitude from $14.00 to $16.50 and gave the stock a “neutral” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.64.

Amplitude Stock Up 2.3%

Shares of NASDAQ AMPL opened at $17.21 on Thursday. The business’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $9.90. The company has a market cap of $1.79 billion, a PE ratio of -22.64 and a beta of 1.30. Amplitude has a twelve month low of $5.51 and a twelve month high of $18.85.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Amplitude had a negative return on equity of 50.22% and a negative net margin of 25.24%. The firm had revenue of $110.64 million for the quarter, compared to analyst estimates of $107.02 million. As a group, research analysts anticipate that Amplitude will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nathaniel Glenn Crook sold 300,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $12.99, for a total value of $3,897,000.00. Following the completion of the sale, the insider owned 1,622,696 shares of the company’s stock, valued at approximately $21,078,821.04. The trade was a 15.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Spenser Skates sold 185,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $12.30, for a total transaction of $2,275,500.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 675,049 shares of company stock worth $9,276,846. Insiders own 21.59% of the company’s stock.

Institutional Trading of Amplitude

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Advisor Solutions LLC bought a new stake in Amplitude in the 3rd quarter valued at about $163,000. Landscape Capital Management L.L.C. bought a new position in shares of Amplitude during the third quarter worth approximately $332,000. Royce & Associates LP boosted its stake in shares of Amplitude by 15.3% in the third quarter. Royce & Associates LP now owns 1,211,654 shares of the company’s stock valued at $16,781,000 after buying an additional 160,678 shares during the period. Russell Investments Group Ltd. grew its position in Amplitude by 55.8% during the third quarter. Russell Investments Group Ltd. now owns 178,303 shares of the company’s stock worth $2,459,000 after buying an additional 63,843 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Amplitude by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,249 shares of the company’s stock worth $661,000 after acquiring an additional 1,816 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Company Profile

Amplitude, Inc. develops a digital analytics platform that helps organizations understand how people use their websites, mobile apps and other digital products. Its software analyzes customer interactions to help teams identify usage patterns and make product and customer-experience decisions. The platform includes tools for product analytics, session replay and experimentation. These features allow businesses to examine user journeys, measure engagement and test changes to digital experiences. Founded in 2012, Amplitude serves organizations across a range of industries and geographies.