Amplitude (NASDAQ:AMPL) Upgraded to “Buy” by Zacks Investment Research

Amplitude (NASDAQ:AMPLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, reports. The firm currently has a $19.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 24.26% from the company’s previous close.

According to Zacks, “Amplitude Inc. is a pioneer in digital optimization. Amplitude Inc. is based in SAN FRANCISCO. “

Several other research analysts have also issued reports on AMPL. Robert W. Baird lowered their price target on shares of Amplitude from $75.00 to $40.00 in a research report on Thursday, February 17th. KeyCorp lowered their target price on shares of Amplitude from $32.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Finally, Citigroup boosted their price target on Amplitude from $34.00 to $35.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $48.71.

Shares of AMPL stock traded down $1.53 during midday trading on Monday, reaching $15.29. 64,774 shares of the stock were exchanged, compared to its average volume of 1,577,217. Amplitude has a 1 year low of $15.17 and a 1 year high of $87.98. The company’s 50 day moving average is $18.50 and its two-hundred day moving average is $40.67.

Amplitude (NASDAQ:AMPLGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $53.10 million during the quarter, compared to analysts’ expectations of $50.84 million. Amplitude’s revenue for the quarter was up 60.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) earnings per share. Sell-side analysts forecast that Amplitude will post -0.41 earnings per share for the current year.

In other Amplitude news, CRO Matthew Heinz sold 7,581 shares of the business’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $45.09, for a total value of $341,827.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,824,999 shares of the company’s stock in a transaction dated Friday, February 18th. The shares were bought at an average cost of $19.13 per share, for a total transaction of $34,912,230.87. The disclosure for this purchase can be found here. Insiders acquired 2,563,748 shares of company stock valued at $49,947,941 over the last ninety days.

A number of institutional investors have recently modified their holdings of AMPL. Harvard Management Co. Inc. bought a new stake in Amplitude in the 3rd quarter worth approximately $29,000. Advisor Group Holdings Inc. bought a new position in shares of Amplitude during the 4th quarter valued at $35,000. Ieq Capital LLC boosted its stake in shares of Amplitude by 2.6% in the 1st quarter. Ieq Capital LLC now owns 49,392 shares of the company’s stock worth $910,000 after buying an additional 1,233 shares during the last quarter. Thrive Capital Management LLC bought a new stake in shares of Amplitude in the third quarter worth $74,000. Finally, IFP Advisors Inc purchased a new stake in Amplitude during the fourth quarter valued at $74,000. Institutional investors own 79.32% of the company’s stock.

About Amplitude (Get Rating)

Amplitude, Inc provides a digital optimization system to analyze customer behavior within digital products in the United States and internationally. It offers Amplitude analytics for insights of customer behavior; Amplitude Recommend, a no-code personalization solution that helps to increase customer engagement by adapting digital products and campaigns to every user based on behavior; Amplitude Experiment, an integrated solution that enables teams to determine and deliver the product experiences for their customers through A/B tests and controlled feature releases; Amplitude Behavioral Graph, a proprietary database for deep, real-time interactive behavioral analysis, and behavior-driven personalization – instantly joining, analyzing, and correlating any customer actions to outcomes, such as engagement, growth, and loyalty; and data management, a real-time data layer for planning, integrating, and managing data sources to create a foundation with identity resolution, enterprise-level security, and privacy solutions.

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