Robert W. Baird Cuts Amplitude (NASDAQ:AMPL) Price Target to $14.00

Amplitude (NASDAQ:AMPL) had its price objective lowered by Robert W. Baird from $17.00 to $14.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on AMPL. Piper Sandler raised their price target on Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup upped their target price on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. DA Davidson reduced their price target on Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Amplitude in a research note on Thursday. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amplitude has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Amplitude Stock Performance

Amplitude stock opened at $10.64 on Thursday. The business’s fifty day moving average is $10.08 and its two-hundred day moving average is $10.74. The firm has a market cap of $1.05 billion, a P/E ratio of -13.82 and a beta of 1.40. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The company had revenue of $79.95 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. On average, equities research analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity

In other news, Director Eric Vishria sold 35,000 shares of the company’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 value of $448,000.00. Following the completion of the transaction, the director now owns 286,859 shares in the company, valued at $3,671,795.20. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Amplitude in the 4th quarter valued at approximately $38,000. Aquatic Capital Management LLC raised its holdings in shares of Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after purchasing an additional 2,647 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Meros Investment Management LP bought a new position in Amplitude in the fourth quarter valued at $102,000. 73.20% of the stock is owned by institutional investors and hedge funds.

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.