Piper Sandler Issues Positive Forecast for Amplitude (NASDAQ:AMPL) Stock Price

Amplitude (NASDAQ:AMPL) had its price target hoisted by analysts at Piper Sandler from $9.00 to $11.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 4.86% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird cut their price target on Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. UBS Group lowered their price objective on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

Amplitude Trading Up 5.2 %

AMPL opened at $10.49 on Friday. The business’s 50 day moving average is $8.91 and its 200-day moving average is $8.84. The stock has a market cap of $1.30 billion, a PE ratio of -15.43 and a beta of 1.31. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.42.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). The business had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.98 million. Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. As a group, analysts forecast that Amplitude will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MQS Management LLC grew its position in Amplitude by 38.2% in the third quarter. MQS Management LLC now owns 25,729 shares of the company’s stock worth $231,000 after buying an additional 7,112 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in Amplitude in the third quarter worth approximately $1,597,000. Allspring Global Investments Holdings LLC grew its position in Amplitude by 418.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 66,592 shares of the company’s stock worth $597,000 after buying an additional 53,741 shares during the last quarter. Blue Trust Inc. boosted its stake in Amplitude by 13.5% in the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after purchasing an additional 2,324 shares during the period. Finally, Creative Planning boosted its stake in Amplitude by 152.4% in the 3rd quarter. Creative Planning now owns 26,166 shares of the company’s stock worth $235,000 after purchasing an additional 15,800 shares during the period. Institutional investors and hedge funds 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.