Amplitude (NASDAQ:AMPL) Price Target Raised to $13.00

Amplitude (NASDAQ:AMPL) had its price target hoisted by equities researchers at UBS Group from $10.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 7.13% from the stock’s previous close.

Several other research firms have also recently commented on AMPL. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Scotiabank raised their price target on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research report on Friday, December 13th. Finally, Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $12.00 to $17.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

Amplitude Price Performance

Shares of NASDAQ AMPL opened at $14.00 on Thursday. The stock has a market cap of $1.32 billion, a P/E ratio of -20.80 and a beta of 1.37. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.50. The firm has a 50-day moving average of $11.40 and a 200 day moving average of $10.00.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The company had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative return on equity of 27.40% and a negative net margin of 27.44%. Research analysts expect that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the business’s 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 completion of the sale, the director now directly owns 279,771 shares in the company, valued at approximately $3,362,847.42. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amplitude by 8.8% in the 4th 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 in the last quarter. Squarepoint Ops LLC purchased a new position in Amplitude in the 4th quarter valued at $716,000. Thrive Capital Management LLC purchased a new stake in Amplitude in the 4th quarter valued at approximately $904,000. State of Wyoming grew its stake in shares of Amplitude by 991.2% during the 4th quarter. State of Wyoming now owns 30,020 shares of the company’s stock worth $317,000 after purchasing an additional 27,269 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Amplitude in the 4th quarter valued at approximately $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.