Amplitude (NASDAQ:AMPL) Rating Increased to Buy at DA Davidson

Amplitude (NASDAQ:AMPL) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $16.00 price objective on the stock, up from their previous price objective of $12.50. DA Davidson’s price target indicates a potential upside of 19.44% from the stock’s previous close.

AMPL has been the topic of a number of other research reports. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $17.00 in a research report on Thursday. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. Scotiabank boosted their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $11.00 to $15.00 in a research report on Monday, January 6th. Finally, KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Amplitude Stock Down 7.2 %

NASDAQ:AMPL opened at $13.40 on Thursday. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -17.40 and a beta of 1.37. The company’s 50 day moving average is $11.49 and its 200-day moving average is $10.07.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results 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 31.52% and a negative return on equity of 32.45%. The firm had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Research analysts predict that Amplitude will post -0.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 3,563 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the sale, the director now owns 276,208 shares in the company, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after purchasing an additional 447,277 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after purchasing an additional 770,227 shares in the last quarter. FMR LLC boosted its stake in shares of Amplitude by 0.8% in the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after purchasing an additional 64,574 shares in the last quarter. Sunriver Management LLC boosted its stake in shares of Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after purchasing an additional 737,600 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after purchasing an additional 52,033 shares in the last quarter. Institutional investors and hedge funds 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.