Amplitude (NASDAQ:AMPL) Coverage Initiated by Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC began coverage on shares of Amplitude (NASDAQ:AMPL) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 27.08% from the stock’s current price.

Several other equities research analysts have also commented on the stock. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 13th. Morgan Stanley upped their price target on Amplitude from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Bank of America increased their price target on Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler increased their target price on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Amplitude Trading Up 3.0 %

Amplitude stock opened at $12.59 on Monday. The stock has a market cap of $1.63 billion, a P/E ratio of -16.35 and a beta of 1.37. The company has a fifty day simple moving average of $11.62 and a 200-day simple moving average of $10.26. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). The company had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. As a group, sell-side analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now directly owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 45,000 shares of company stock valued at $568,129. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors and hedge funds have recently bought and sold shares of the business. Occudo Quantitative Strategies LP lifted its holdings in Amplitude by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock worth $436,000 after purchasing an additional 832 shares during the period. Rhumbline Advisers increased its holdings in shares of Amplitude by 1.0% in the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after buying an additional 1,040 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after acquiring an additional 1,492 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Amplitude by 2.6% during the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock worth $876,000 after acquiring an additional 2,111 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amplitude by 6.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company’s stock valued at $468,000 after purchasing an additional 2,512 shares during the last quarter. Institutional investors and hedge funds 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.