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

Needham & Company LLC restated their buy rating on shares of Amplitude (NASDAQ:AMPL) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

A number of other brokerages have also commented on AMPL. DA Davidson reduced their price target 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. Citigroup lifted their target price on shares of Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Piper Sandler increased their price target on Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $12.00 to $17.00 in a research report on Thursday, February 20th. Finally, Scotiabank dropped their target price on Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amplitude has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Amplitude Stock Up 1.3 %

Shares of AMPL opened at $10.64 on Thursday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company has a market capitalization of $1.05 billion, a P/E ratio of -13.82 and a beta of 1.40. The firm has a 50 day moving average of $10.08 and a 200 day moving average of $10.74.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The business had revenue of $79.95 million during the quarter, compared to the consensus estimate of $79.81 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, sell-side analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the firm’s 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 owns 286,859 shares in the company, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Amplitude during the 4th quarter valued at $38,000. Aquatic Capital Management LLC raised its holdings in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after acquiring an additional 2,647 shares during the period. Canada Pension Plan Investment Board raised its holdings in Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after acquiring an additional 5,100 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Amplitude by 22.3% in the fourth 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 in the last quarter. Finally, Meros Investment Management LP bought a new position in shares of Amplitude in the fourth quarter worth about $102,000. 73.20% of the stock is currently owned by institutional investors.

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.