Amplitude (NASDAQ:AMPL) Trading Up 5.2% on Analyst Upgrade

Amplitude, Inc. (NASDAQ:AMPL) shares shot up 5.2% on Wednesday after Robert W. Baird raised their price target on the stock from $14.00 to $15.00. Robert W. Baird currently has an outperform rating on the stock. Amplitude traded as high as $11.84 and last traded at $11.5950. 376,164 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,286,363 shares. The stock had previously closed at $11.02.

Several other research analysts have also weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $16.00 price objective on shares of Amplitude in a research note on Monday, September 29th. UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective on shares of Amplitude in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a research note on Monday. Finally, BTIG Research assumed coverage on Amplitude in a research report on Tuesday. They issued a “buy” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.40.

Insiders Place Their Bets

In other news, CEO Spenser Skates sold 400,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total transaction of $4,396,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Casey acquired 30,000 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the acquisition, the chief financial officer owned 1,160,608 shares in the company, valued at $11,594,473.92. The trade was a 2.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 430,000 shares of company stock valued at $4,708,300 over the last three months. 23.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of Amplitude during the first quarter valued at approximately $671,000. Nuveen LLC bought a new position in Amplitude in the first quarter worth $2,526,000. Cresset Asset Management LLC boosted its stake in Amplitude by 54.4% during the first quarter. Cresset Asset Management LLC now owns 83,557 shares of the company’s stock worth $851,000 after buying an additional 29,444 shares in the last quarter. Wilson Asset Management International PTY Ltd. bought a new stake in Amplitude in the 2nd quarter valued at $1,536,000. Finally, Kodai Capital Management LP acquired a new position in shares of Amplitude in the 1st quarter valued at $1,409,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Stock Performance

The business’s 50 day moving average price is $10.36 and its 200-day moving average price is $11.32. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -14.31 and a beta of 1.51.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $86.29 million. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, equities research analysts expect that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Amplitude Company Profile

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.