Amplitude (NASDAQ:AMPL) Raised to Buy at DA Davidson

DA Davidson upgraded shares of Amplitude (NASDAQ:AMPL) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat reports. The brokerage currently has $16.00 target price on the stock, up from their prior target price of $12.50.

Several other equities research analysts have also issued reports on the company. Robert W. Baird raised Amplitude from a “neutral” rating to an “outperform” rating and upped their price target for the company from $12.00 to $17.00 in a research report on Thursday. Scotiabank increased their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $15.00 in a report on Monday, January 6th. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Finally, KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amplitude presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Amplitude Stock Performance

AMPL opened at $14.44 on Thursday. The company has a market capitalization of $1.37 billion, a P/E ratio of -21.55 and a beta of 1.37. The company has a 50-day moving average of $11.46 and a 200-day moving average of $10.03. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last announced 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 net margin of 27.44% and a negative return on equity of 27.40%. The firm had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. As a group, sell-side analysts expect that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by insiders.

Institutional Trading of Amplitude

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Amplitude by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after purchasing an additional 770,227 shares during the period. FMR LLC grew its position in Amplitude by 0.8% in the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after buying an additional 64,574 shares in the last quarter. Sunriver Management LLC grew its position in Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after buying an additional 737,600 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Amplitude by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after buying an additional 52,033 shares during the period. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.