Amplitude, Inc. (NASDAQ:AMPL) Receives Average Recommendation of “Moderate Buy” from Analysts

Amplitude, Inc. (NASDAQ:AMPL) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.40.

AMPL has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Amplitude in a research report on Tuesday, December 16th. They set a “buy” rating and a $14.00 target price on the stock. Robert W. Baird lifted their price target on shares of Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. Piper Sandler reduced their price objective on shares of Amplitude from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Finally, UBS Group raised Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Friday, October 31st.

Amplitude Stock Up 2.1%

Shares of AMPL opened at $6.34 on Monday. The stock has a market cap of $847.59 million, a PE ratio of -7.92 and a beta of 1.49. Amplitude has a 12-month low of $5.99 and a 12-month high of $14.88. The business has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $10.58.

Insider Buying and Selling

In other news, CEO Spenser Skates sold 42,743 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $12.01, for a total value of $513,343.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erica Schultz sold 10,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.88, for a total transaction of $108,800.00. Following the completion of the sale, the director directly owned 114,906 shares in the company, valued at approximately $1,250,177.28. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 52,843 shares of company stock worth $623,343. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Amplitude by 9.4% during the 4th quarter. Vanguard Group Inc. now owns 10,825,568 shares of the company’s stock worth $125,360,000 after acquiring an additional 934,350 shares during the period. Alliancebernstein L.P. boosted its position in shares of Amplitude by 44.8% during the 3rd quarter. Alliancebernstein L.P. now owns 6,025,390 shares of the company’s stock valued at $64,592,000 after purchasing an additional 1,864,909 shares in the last quarter. Baillie Gifford & Co. grew its stake in Amplitude by 2.2% during the fourth quarter. Baillie Gifford & Co. now owns 2,741,880 shares of the company’s stock worth $31,751,000 after purchasing an additional 59,984 shares during the period. Nuveen LLC increased its holdings in Amplitude by 18.8% in the fourth quarter. Nuveen LLC now owns 2,645,618 shares of the company’s stock worth $30,636,000 after purchasing an additional 418,376 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in Amplitude by 22.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,513,383 shares of the company’s stock valued at $29,105,000 after buying an additional 468,418 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.