Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Citigroup Analyst Says

Amplitude (NASDAQ:AMPL) had its target price increased by stock analysts at Citigroup from $11.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 11.97% from the company’s previous close.

AMPL has been the subject of several other reports. Piper Sandler upped their price objective on Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Bank of America raised their price target on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $17.00 in a research report on Thursday. Finally, DA Davidson upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.50 to $16.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.89.

Amplitude Stock Performance

Shares of AMPL opened at $13.40 on Monday. The stock has a 50 day simple moving average of $11.49 and a 200 day simple moving average of $10.10. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.88. The firm has a market capitalization of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results 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 31.52% and a negative return on equity of 32.45%. The company had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Equities research analysts predict that Amplitude will post -0.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the sale, the director now owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of large investors have recently made changes to their positions in the company. Occudo Quantitative Strategies LP boosted its stake in Amplitude by 2.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after purchasing an additional 832 shares during the period. Rhumbline Advisers lifted its holdings in shares of Amplitude by 1.0% during the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after buying an additional 1,040 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after acquiring an additional 1,492 shares during the period. Legal & General Group Plc boosted its position in shares of Amplitude by 2.6% in the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock valued at $876,000 after acquiring an additional 2,111 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Amplitude by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company’s stock valued at $468,000 after acquiring an additional 2,512 shares in the last quarter. 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.