Amplitude (NASDAQ:AMPL) Given Buy Rating at Needham & Company LLC

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 26.48% from the company’s previous close.

A number of other brokerages have also weighed in on AMPL. Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Robert W. Baird lowered their target price on Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Citigroup raised their target price on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Bank of America lifted their price objective on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley lifted their price objective on Amplitude from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Amplitude Stock Performance

Shares of NASDAQ:AMPL opened at $12.65 on Wednesday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The firm has a market cap of $1.25 billion, a PE ratio of -16.43 and a beta of 1.56. The business has a fifty day moving average of $10.46 and a 200-day moving average of $11.13.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $79.95 million during the quarter, compared to analyst estimates of $79.81 million. During the same quarter last year, the business posted $0.01 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.75, for a total transaction of $41,301.25. Following the completion of the transaction, the director now directly owns 87,654 shares in the company, valued at approximately $1,029,934.50. The trade was a 3.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $10.15, for a total value of $253,750.00. Following the transaction, the director now owns 261,859 shares of the company’s stock, valued at $2,657,868.85. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after buying an additional 447,277 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Amplitude by 1.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,091,044 shares of the company’s stock valued at $92,638,000 after purchasing an additional 94,815 shares in the last quarter. Sunriver Management LLC lifted its holdings in shares of Amplitude by 2.1% during the 1st quarter. Sunriver Management LLC now owns 3,850,928 shares of the company’s stock valued at $39,241,000 after purchasing an additional 78,120 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Amplitude during the 1st quarter valued at about $20,292,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Amplitude by 2.7% during 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. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.