Piper Sandler Increases Amplitude (NASDAQ:AMPL) Price Target to $17.00

Amplitude (NASDAQ:AMPL) had its price target raised by stock analysts at Piper Sandler from $15.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 43.46% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and raised their price target for the company from $12.00 to $17.00 in a research note 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 research note on Friday, December 13th. DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $12.50 to $16.00 in a research report on Thursday. Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. Finally, Scotiabank lifted their target price on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.75.

Amplitude Stock Performance

Shares of Amplitude stock opened at $11.85 on Thursday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -17.69 and a beta of 1.37. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.30. The stock has a 50 day moving average of $11.40 and a 200 day moving average of $10.00.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share 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%. Analysts forecast that Amplitude will post -0.67 EPS for the current year.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the transaction, the director now owns 279,771 shares in the company, valued at $3,362,847.42. The trade was a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Amplitude by 371.7% in the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after purchasing an additional 101,289 shares in the last quarter. M&T Bank Corp boosted its holdings in Amplitude by 86.8% in the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after purchasing an additional 72,806 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Amplitude by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after purchasing an additional 23,526 shares in the last quarter. Walleye Capital LLC purchased a new stake in Amplitude in the 3rd quarter valued at approximately $726,000. Finally, Kera Capital Partners Inc. purchased a new stake in Amplitude in the 4th quarter valued at approximately $1,498,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

About Amplitude

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.