Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Bank of America Analyst Says

Amplitude (NASDAQ:AMPL) had its price target hoisted by Bank of America from $13.00 to $15.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on AMPL. Piper Sandler raised their price objective on shares of Amplitude from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. DA Davidson lowered their price objective on shares of Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Robert W. Baird lowered their price objective on shares of Amplitude from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Amplitude in a research note on Wednesday, June 11th. Finally, UBS Group lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Amplitude Price Performance

NASDAQ AMPL opened at $11.73 on Monday. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The firm has a market capitalization of $1.16 billion, a PE ratio of -15.43 and a beta of 1.56. The company’s 50 day simple moving average is $10.81 and its 200 day simple moving average is $11.19.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. The company had revenue of $79.95 million for the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the prior year, the business earned $0.01 EPS. Amplitude’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $10.15, for a total transaction of $253,750.00. Following the transaction, the director now directly owns 261,859 shares in the company, valued at approximately $2,657,868.85. The trade was a 8.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Erica Schultz sold 26,394 shares of Amplitude 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 transaction, the director now owns 92,500 shares in the company, valued at approximately $1,155,325. The trade was a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,411 shares of company stock worth $730,902. 23.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Amplitude during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC grew its position in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. grew its position in Amplitude by 33.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after purchasing an additional 1,455 shares in the last quarter. GAMMA Investing LLC grew its position in Amplitude by 45,828.6% during the 1st quarter. GAMMA Investing LLC now owns 6,430 shares of the company’s stock worth $631,000 after purchasing an additional 6,416 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Amplitude by 255.0% during the 4th 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. 73.20% of the stock is currently owned by hedge funds and other 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.