Amplitude (NASDAQ:AMPL) Given Buy Rating at DA Davidson

DA Davidson restated their buy rating on shares of Amplitude (NASDAQ:AMPL) in a research note released on Monday,Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

A number of other equities analysts also recently weighed in on AMPL. Bank of America raised their target price on shares of Amplitude from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Piper Sandler raised their target price on shares of Amplitude from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Needham & Company LLC raised their target price on shares of Amplitude from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Benchmark reaffirmed a “buy” rating on shares of Amplitude in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Amplitude from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Amplitude Stock Performance

Shares of NASDAQ AMPL opened at $11.45 on Monday. Amplitude has a fifty-two week low of $7.55 and a fifty-two week high of $14.88. The company has a 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $11.33. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.07 and a beta of 1.54.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The business had revenue of $83.27 million during the quarter, compared to the consensus estimate of $81.29 million. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In related news, Director Erica Schultz sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $11.06, for a total value of $110,600.00. Following the sale, the director owned 107,406 shares in the company, valued at approximately $1,187,910.36. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 25,000 shares of company stock valued at $290,750 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in Amplitude by 33.3% in the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock worth $59,000 after purchasing an additional 1,455 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Amplitude by 57.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock worth $64,000 after acquiring an additional 1,879 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Amplitude during the 1st quarter worth $107,000. Aigen Investment Management LP purchased a new position in shares of Amplitude during the 1st quarter worth $114,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Amplitude during the 1st quarter worth $119,000. 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.