Piper Sandler Increases Amplitude (NASDAQ:AMPL) Price Target to $17.00

Amplitude (NASDAQ:AMPL) had its target price upped by equities researchers at Piper Sandler from $15.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 43.46% from the company’s previous close.

A number of other brokerages have also issued reports on AMPL. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research note on Friday, December 13th. DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.50 to $16.00 in a report on Thursday. Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $11.00 in a report on Monday, January 13th. Scotiabank raised their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $17.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.75.

Amplitude Trading Down 2.1 %

Shares of Amplitude stock opened at $11.85 on Thursday. The stock has a 50 day moving average of $11.40 and a 200 day moving average of $10.00. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.30. The firm has a market cap of $1.12 billion, a PE ratio of -17.69 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. As a group, equities research analysts forecast that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now directly owns 276,208 shares of the company’s stock, valued at $3,314,496. This represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

Several large investors have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP grew its stake in Amplitude by 2.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after purchasing an additional 832 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Amplitude by 1.0% in the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after buying an additional 1,040 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after buying an additional 1,492 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Amplitude by 2.6% in the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock worth $876,000 after buying an additional 2,111 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after buying an additional 2,324 shares during the last quarter. 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.