Bank of America Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL) had its price objective increased by Bank of America from $13.00 to $15.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley boosted their price objective on Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Scotiabank cut their price target on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Baird R W upgraded shares of Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. UBS Group dropped their target price on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler raised their target price on shares of Amplitude from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amplitude currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Amplitude Trading Up 6.7%

AMPL stock opened at $12.13 on Monday. The stock has a market cap of $1.20 billion, a PE ratio of -15.75 and a beta of 1.56. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The company has a 50-day moving average price of $10.72 and a 200 day moving average price of $11.18.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data 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 firm 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 earned $0.01 EPS. Sell-side analysts forecast that Amplitude will post -0.62 EPS for the current year.

Insider Activity

In other news, Director Erica Schultz sold 26,394 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the transaction, the director now directly owns 92,500 shares of the company’s stock, valued at approximately $1,155,325. The trade was a 22.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.75, for a total value of $41,301.25. Following the sale, the director now directly owns 87,654 shares in the company, valued at approximately $1,029,934.50. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,411 shares of company stock worth $730,902. Corporate insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in shares of Amplitude during the first quarter valued at about $20,292,000. T. Rowe Price Investment Management Inc. boosted its stake in Amplitude by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after acquiring an additional 770,227 shares in the last quarter. Sunriver Management LLC grew its holdings in Amplitude by 24.3% in the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after purchasing an additional 737,600 shares during the last quarter. Meros Investment Management LP increased its position in shares of Amplitude by 4,682.9% during the first quarter. Meros Investment Management LP now owns 462,314 shares of the company’s stock worth $4,711,000 after purchasing an additional 452,648 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after purchasing an additional 447,277 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

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.