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

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

Several other brokerages also recently commented on AMPL. Citigroup increased their price objective 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. Scotiabank cut their price objective on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Piper Sandler increased their price objective on shares of Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Bank of America increased their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, UBS Group cut their price objective on shares of Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Price Performance

NASDAQ:AMPL opened at $11.37 on Wednesday. The firm’s 50-day moving average price is $10.65 and its 200-day moving average price is $11.16. The company has a market capitalization of $1.12 billion, a PE ratio of -14.77 and a beta of 1.56. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. Equities analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.15, for a total value of $253,750.00. Following the transaction, the director now owns 261,859 shares in the company, valued at $2,657,868.85. This represents a 8.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Erica Schultz sold 26,394 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $329,661.06. Following the completion of the transaction, the director now owns 92,500 shares in the company, valued at $1,155,325. This trade represents a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,411 shares of company stock worth $730,902. Company insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Amplitude by 1.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,091,044 shares of the company’s stock worth $92,638,000 after acquiring an additional 94,815 shares during the period. Sunriver Management LLC raised its stake in Amplitude by 2.1% during the 1st quarter. Sunriver Management LLC now owns 3,850,928 shares of the company’s stock worth $39,241,000 after acquiring an additional 78,120 shares during the period. Baillie Gifford & Co. bought a new stake in Amplitude during the 1st quarter worth approximately $20,292,000. Finally, Geode Capital Management LLC raised its stake in Amplitude by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock worth $20,636,000 after acquiring an additional 52,033 shares during the period. Institutional investors own 73.20% of the company’s stock.

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.