Amplitude (NASDAQ:AMPL) Stock Rating Reaffirmed as “Buy” by BTIG Research

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $19.00 target price on the stock. BTIG Research‘s target price indicates a potential upside of 10.40% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Bank of America lifted their price target on shares of Amplitude from $14.00 to $16.50 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. DA Davidson raised their price objective on shares of Amplitude from $10.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Amplitude from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Needham & Company LLC lifted their price target on Amplitude from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amplitude in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.64.

Amplitude Stock Up 2.3%

Shares of NASDAQ AMPL opened at $17.21 on Thursday. The company’s fifty day moving average is $14.99 and its 200-day moving average is $9.90. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -22.64 and a beta of 1.30. Amplitude has a twelve month low of $5.51 and a twelve month high of $18.85.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Amplitude had a negative return on equity of 50.22% and a negative net margin of 25.24%. The company had revenue of $110.64 million for the quarter, compared to analyst estimates of $107.02 million. On average, research analysts anticipate that Amplitude will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In other Amplitude news, CEO Spenser Skates sold 185,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $12.30, for a total transaction of $2,275,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nathaniel Glenn Crook sold 300,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $12.99, for a total transaction of $3,897,000.00. Following the transaction, the insider owned 1,622,696 shares of the company’s stock, valued at approximately $21,078,821.04. This represents a 15.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 675,049 shares of company stock valued at $9,276,846 in the last 90 days. 21.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Focus Advisor Solutions LLC acquired a new position in Amplitude during the third quarter valued at approximately $163,000. Landscape Capital Management L.L.C. bought a new stake in shares of Amplitude during the 3rd quarter worth approximately $332,000. Royce & Associates LP raised its stake in shares of Amplitude by 15.3% during the 3rd quarter. Royce & Associates LP now owns 1,211,654 shares of the company’s stock worth $16,781,000 after purchasing an additional 160,678 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Amplitude by 55.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 178,303 shares of the company’s stock valued at $2,459,000 after buying an additional 63,843 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Amplitude by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,249 shares of the company’s stock valued at $661,000 after buying an additional 1,816 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

Amplitude, Inc. develops a digital analytics platform that helps organizations understand how people use their websites, mobile apps and other digital products. Its software analyzes customer interactions to help teams identify usage patterns and make product and customer-experience decisions. The platform includes tools for product analytics, session replay and experimentation. These features allow businesses to examine user journeys, measure engagement and test changes to digital experiences. Founded in 2012, Amplitude serves organizations across a range of industries and geographies.