Amplitude (NASDAQ:AMPL) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Amplitude (NASDAQ:AMPL) in a research report report published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $16.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America raised their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley raised their price objective on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $17.00 in a research report on Thursday, February 20th. Citigroup raised their price objective on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, DA Davidson upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.50 to $16.00 in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amplitude presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Amplitude Stock Up 2.0 %

Shares of Amplitude stock opened at $12.76 on Monday. The stock has a market capitalization of $1.65 billion, a P/E ratio of -16.57 and a beta of 1.37. The company has a 50-day simple moving average of $11.71 and a 200 day simple moving average of $10.33. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $78.13 million for the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. On average, equities analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity

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 value of $42,756.00. Following the transaction, the director now owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after buying an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $94,911,000 after purchasing an additional 770,227 shares during the last quarter. FMR LLC increased its holdings in shares of Amplitude by 0.8% in the third quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after purchasing an additional 64,574 shares during the last quarter. Sunriver Management LLC increased its holdings in shares of Amplitude by 24.3% in the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after purchasing an additional 737,600 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Amplitude by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after purchasing an additional 52,033 shares during the last quarter. 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.