Amplitude (NASDAQ:AMPL) Price Target Raised to $15.00

Amplitude (NASDAQ:AMPL) had its price objective lifted by Citigroup from $11.00 to $15.00 in a research note released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on the stock. DA Davidson upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.50 to $16.00 in a research note on Thursday, February 20th. UBS Group raised their target price on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley upped their price objective on Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Scotiabank lifted their target price on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Piper Sandler raised their price target on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.89.

Amplitude Price Performance

Shares of NASDAQ AMPL opened at $12.76 on Monday. The company’s 50 day simple moving average is $11.57 and its 200 day simple moving average is $10.19. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The firm has a market capitalization of $1.21 billion, a P/E ratio of -16.57 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its 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 return on equity of 32.24% and a negative net margin of 31.52%. The firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Sell-side analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In other Amplitude 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 transaction of $77,372.74. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 45,000 shares of company stock valued at $568,129. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Amplitude by 8.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,843 shares of the company’s stock valued at $1,539,000 after purchasing an additional 11,765 shares during the last quarter. Squarepoint Ops LLC bought a new position in Amplitude during the fourth quarter worth $716,000. Thrive Capital Management LLC acquired a new position in shares of Amplitude in the 4th quarter valued at about $904,000. State of Wyoming increased its holdings in Amplitude by 991.2% in the fourth quarter. State of Wyoming now owns 30,020 shares of the company’s stock worth $317,000 after purchasing an additional 27,269 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Amplitude during the 4th quarter valued at $4,320,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.