Amplitude (NASDAQ:AMPL) Price Target Raised to $15.00

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

Other analysts also recently issued reports about the company. DA Davidson lowered their target price on Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group lowered their target price on Amplitude from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Amplitude in a research note on Wednesday, June 11th. Robert W. Baird lowered their target price on Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, Citigroup raised their target price on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amplitude currently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Amplitude Stock Down 1.1%

AMPL stock opened at $11.73 on Monday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -15.43 and a beta of 1.56. The business has a fifty day simple moving average of $10.81 and a 200-day simple moving average of $11.19. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,657,868.85. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.75, for a total transaction of $41,301.25. Following the completion of the transaction, the director now directly owns 87,654 shares in the company, valued at $1,029,934.50. This represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,411 shares of company stock valued at $730,902. Insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Amplitude in the fourth quarter worth about $38,000. Aquatic Capital Management LLC raised its holdings in shares of Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after buying an additional 2,647 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after buying an additional 1,455 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after buying an additional 5,100 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after buying an additional 1,492 shares during the last quarter. 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.