Amplitude (NASDAQ:AMPL) Receives “Buy” Rating from Needham & Company LLC

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 35.94% from the stock’s current price.

A number of other brokerages have also recently issued reports on AMPL. Morgan Stanley lifted their price objective on shares of Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Robert W. Baird decreased their price target on Amplitude from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. DA Davidson dropped their price objective on Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, April 14th. UBS Group decreased their target price on Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Scotiabank dropped their target price on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amplitude presently has an average rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Stock Performance

NASDAQ:AMPL opened at $11.77 on Tuesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -15.29 and a beta of 1.40. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The stock has a fifty day moving average price of $10.05 and a 200-day moving average price of $10.87.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The firm had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. During the same period in the prior year, the company earned $0.01 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.15, for a total value of $253,750.00. Following the completion of the transaction, the director now directly owns 261,859 shares in the company, valued at approximately $2,657,868.85. This represents a 8.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Amplitude by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after buying an additional 23,526 shares during the last quarter. SG Americas Securities LLC raised its holdings in Amplitude by 15.7% during the 4th quarter. SG Americas Securities LLC now owns 42,107 shares of the company’s stock worth $444,000 after purchasing an additional 5,726 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Amplitude by 58.3% in the 4th quarter. Blue Trust Inc. now owns 30,902 shares of the company’s stock worth $326,000 after purchasing an additional 11,384 shares during the period. Savant Capital LLC acquired a new position in shares of Amplitude in the 4th quarter worth approximately $1,455,000. Finally, Rhumbline Advisers boosted its stake in shares of Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after purchasing an additional 1,040 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.