Piper Sandler Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL) had its price objective hoisted by investment analysts at Piper Sandler from $14.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 40.98% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Scotiabank decreased their target price on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. UBS Group upped their price objective on shares of Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Bank of America raised their target price on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. DA Davidson dropped their price objective on Amplitude from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley cut their price objective on Amplitude from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amplitude has an average rating of “Moderate Buy” and an average price target of $13.60.

Amplitude Stock Up 1.3 %

Amplitude stock opened at $10.64 on Thursday. The firm has a fifty day simple moving average of $10.08 and a two-hundred day simple moving average of $10.73. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company has a market capitalization of $1.05 billion, a PE ratio of -13.82 and a beta of 1.40.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The company had revenue of $79.95 million during the quarter, compared to the consensus estimate of $79.81 million. During the same period last year, the firm posted $0.01 EPS. The company’s revenue was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amplitude

In other news, Director Eric Vishria sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now directly owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Amplitude in the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC lifted its holdings in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares during the period. GAMMA Investing LLC lifted its holdings in Amplitude by 45,828.6% during the first quarter. GAMMA Investing LLC now owns 6,430 shares of the company’s stock worth $631,000 after buying an additional 6,416 shares during the period. Canada Pension Plan Investment Board boosted its position in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Amplitude by 22.3% in the 4th 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. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.