Piper Sandler Issues Positive Forecast for Amplitude (NASDAQ:AMPL) Stock Price

Amplitude (NASDAQ:AMPL) had its price objective increased by Piper Sandler from $15.00 to $17.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.50 to $16.00 in a report on Thursday. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Friday, December 13th. Scotiabank lifted their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $17.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Amplitude Stock Performance

Shares of AMPL opened at $14.44 on Thursday. The firm has a market cap of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37. The firm’s 50 day moving average price is $11.46 and its 200 day moving average price is $10.03. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative return on equity of 27.40% and a negative net margin of 27.44%. The business had revenue of $78.13 million for the quarter, compared to analyst estimates of $76.68 million. On average, sell-side analysts anticipate that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric Vishria sold 3,563 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the completion of the sale, the director now owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Amplitude by 371.7% during the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after purchasing an additional 101,289 shares in the last quarter. M&T Bank Corp lifted its position in Amplitude by 86.8% in the third quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after purchasing an additional 72,806 shares during the period. JPMorgan Chase & Co. lifted its position in Amplitude by 38.9% in the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after purchasing an additional 23,526 shares during the period. Walleye Capital LLC acquired a new stake in Amplitude during the third quarter worth $726,000. Finally, Kera Capital Partners Inc. bought a new stake in Amplitude in the 4th quarter valued at $1,498,000. Institutional investors and hedge funds 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.