Amplitude (NASDAQ:AMPL) Upgraded to Buy at DA Davidson

DA Davidson upgraded shares of Amplitude (NASDAQ:AMPL) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat reports. They currently have $16.00 target price on the stock, up from their prior target price of $12.50.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $15.00 in a research report on Monday, January 6th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Friday, December 13th. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $17.00 in a report on Thursday. Scotiabank increased their target price on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Amplitude presently has an average rating of “Moderate Buy” and an average target price of $14.67.

Amplitude Stock Up 21.9 %

Shares of Amplitude stock opened at $14.44 on Thursday. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The business’s fifty day moving average is $11.46 and its two-hundred day moving average is $10.03. The firm has a market cap of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). The business had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative return on equity of 27.40% and a negative net margin of 27.44%. Equities research analysts anticipate that Amplitude will post -0.67 EPS for the current year.

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total value of $42,756.00. Following the completion of the transaction, the director now owns 276,208 shares in the company, valued at $3,314,496. This represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by insiders.

Institutional Trading of Amplitude

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Amplitude in the fourth quarter valued at $38,000. Aquatic Capital Management LLC lifted its holdings in Amplitude by 176.5% in the 4th 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 in the last quarter. Canada Pension Plan Investment Board boosted its position in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after buying an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Amplitude by 22.3% during the fourth 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 in the last quarter. Finally, Meros Investment Management LP purchased a new stake in shares of Amplitude during the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.