Amplitude’s (AMPL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Amplitude (NASDAQ:AMPL) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

Several other analysts have also commented on the stock. Baird R W raised shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America upped their price target on Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Piper Sandler raised their price objective on Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley reduced their price objective on shares of Amplitude from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, DA Davidson lowered their target price on shares of Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amplitude presently has an average rating of “Moderate Buy” and an average target price of $13.90.

Amplitude Price Performance

Shares of Amplitude stock opened at $9.13 on Wednesday. The stock’s 50 day simple moving average is $10.71 and its 200-day simple moving average is $10.68. The stock has a market cap of $1.18 billion, a P/E ratio of -11.86 and a beta of 1.40. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

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

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the director now directly owns 286,859 shares in the company, valued at $3,671,795.20. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Amplitude by 15.0% during the 1st quarter. Blue Trust Inc. now owns 35,391 shares of the company’s stock worth $361,000 after purchasing an additional 4,608 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Amplitude during the first quarter worth approximately $107,000. Stanley Laman Group Ltd. lifted its position in shares of Amplitude by 10.1% during the 1st quarter. Stanley Laman Group Ltd. now owns 47,692 shares of the company’s stock worth $486,000 after buying an additional 4,387 shares during the last quarter. William Marsh Rice University acquired a new stake in Amplitude during the 1st quarter worth $171,000. Finally, Rhumbline Advisers lifted its position in Amplitude by 6.4% in the first quarter. Rhumbline Advisers now owns 108,431 shares of the company’s stock valued at $1,105,000 after acquiring an additional 6,477 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.