Bank of America Issues Positive Forecast for Amplitude (NASDAQ:AMPL) Stock Price

Amplitude (NASDAQ:AMPL) had its price objective increased by Bank of America from $13.00 to $15.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on AMPL. Citigroup upped their price objective on Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Morgan Stanley lifted their price objective on Amplitude from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Piper Sandler raised their target price on shares of Amplitude from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Scotiabank lowered their price target on shares of Amplitude from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Finally, Baird R W raised shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Amplitude Price Performance

AMPL stock opened at $12.13 on Monday. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The company has a market cap of $1.20 billion, a P/E ratio of -15.75 and a beta of 1.56. The stock’s fifty day moving average price is $10.72 and its 200-day moving average price is $11.18.

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

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.75, for a total value of $41,301.25. Following the sale, the director now owns 87,654 shares of the company’s stock, valued at $1,029,934.50. The trade was a 3.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erica Schultz sold 26,394 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $329,661.06. Following the completion of the transaction, the director now directly owns 92,500 shares of the company’s stock, valued at approximately $1,155,325. This trade represents a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,411 shares of company stock worth $730,902. Insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in shares of Amplitude during the 1st quarter valued at about $20,292,000. T. Rowe Price Investment Management Inc. increased its stake in Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after acquiring an additional 770,227 shares during the last quarter. Sunriver Management LLC raised its position in Amplitude by 24.3% during 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 period. Meros Investment Management LP raised its position in Amplitude by 4,682.9% during the first quarter. Meros Investment Management LP now owns 462,314 shares of the company’s stock valued at $4,711,000 after purchasing an additional 452,648 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after purchasing an additional 447,277 shares during the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.