Amplitude (NASDAQ:AMPL) Stock Rating Upgraded by Robert W. Baird

Amplitude (NASDAQ:AMPL) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Thursday,Finviz reports. The brokerage presently has a $17.00 target price on the stock, up from their previous target price of $12.00. Robert W. Baird’s price target suggests a potential upside of 43.46% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. KeyCorp upgraded shares of 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. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $15.00 in a research note on Monday, January 6th. DA Davidson upgraded shares of Amplitude to a “hold” rating in a research note on Monday, February 10th. Scotiabank raised their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.14.

Amplitude Stock Down 2.1 %

Amplitude stock opened at $11.85 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of -17.69 and a beta of 1.37. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.30. The company’s 50 day moving average is $11.40 and its two-hundred day moving average is $10.00.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. On average, equities research analysts anticipate 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 firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the completion of the sale, the director now owns 276,208 shares in the company, valued at $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Amplitude during the fourth quarter worth about $38,000. Aquatic Capital Management LLC grew its holdings in Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board grew its holdings in Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Summit Investment Advisors Inc. grew its holdings in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new stake in Amplitude in the fourth quarter valued at approximately $102,000. 73.20% of the stock is currently 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.