Amplitude’s (AMPL) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Amplitude (NASDAQ:AMPL) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $19.00 price target on the stock.

A number of other research firms have also issued reports on AMPL. Piper Sandler raised their target price on shares of Amplitude from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Needham & Company LLC upped their price target on shares of Amplitude from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Wall Street Zen raised Amplitude from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Bank of America lifted their price objective on Amplitude from $14.00 to $16.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. Finally, UBS Group increased their target price on Amplitude from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amplitude currently has an average rating of “Moderate Buy” and an average target price of $17.64.

Amplitude Price Performance

Shares of AMPL stock traded up $0.01 on Thursday, hitting $17.34. The company’s stock had a trading volume of 1,132,543 shares, compared to its average volume of 1,971,778. Amplitude has a fifty-two week low of $5.51 and a fifty-two week high of $18.85. The firm’s fifty day moving average price is $15.15 and its 200-day moving average price is $9.97. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -22.82 and a beta of 1.30.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.04 earnings per share for the quarter, beating 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 business had revenue of $110.64 million for the quarter, compared to the consensus estimate of $107.02 million. Analysts predict that Amplitude will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Spenser Skates sold 6,651 shares of the business’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $17.53, for a total transaction of $116,592.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nathaniel Glenn Crook sold 300,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $12.99, for a total transaction of $3,897,000.00. Following the transaction, the insider directly owned 1,622,696 shares of the company’s stock, valued at $21,078,821.04. This represents a 15.60% decrease in their position. 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. Over the last three months, insiders sold 675,097 shares of company stock valued at $9,277,684. Insiders own 21.59% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Amplitude in the 3rd quarter worth approximately $6,886,000. First Trust Advisors LP acquired a new stake in shares of Amplitude during the 3rd quarter worth approximately $199,000. Focus Advisor Solutions LLC bought a new stake in shares of 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 third quarter valued at approximately $332,000. Finally, Royce & Associates LP increased its position in shares of Amplitude by 15.3% during the third quarter. Royce & Associates LP now owns 1,211,654 shares of the company’s stock valued at $16,781,000 after purchasing an additional 160,678 shares during the period. 73.20% of the stock is owned by institutional investors and hedge funds.

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.