Amplitude, Inc. (NASDAQ:AMPL) Receives Average Recommendation of “Moderate Buy” from Analysts

Amplitude, Inc. (NASDAQ:AMPL) has earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.50.

AMPL has been the topic of several research reports. DA Davidson reduced their price target on shares of Amplitude from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Robert W. Baird dropped their price objective on shares of Amplitude from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Amplitude in a research report on Wednesday, June 11th. Bank of America increased their price target on shares of Amplitude from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday. Finally, Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th.

Insider Buying and Selling

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $329,661.06. Following the completion of the sale, the director now directly owns 92,500 shares in the company, valued at $1,155,325. This trade represents a 22.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction on 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 $1,029,934.50. This represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,411 shares of company stock valued at $730,902 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors have recently added to or reduced their stakes in AMPL. Occudo Quantitative Strategies LP grew its holdings in shares of Amplitude by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after buying an additional 832 shares during the last quarter. Rhumbline Advisers lifted its position in Amplitude by 1.0% during the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after acquiring an additional 1,040 shares during the period. Russell Investments Group Ltd. grew its stake in Amplitude by 33.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after purchasing an additional 1,455 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings 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 valued at $86,000 after purchasing an additional 1,492 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Amplitude by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company’s stock worth $473,000 after purchasing an additional 2,038 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Price Performance

AMPL opened at $11.86 on Wednesday. The company has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $11.18. The firm has a market cap of $1.17 billion, a P/E ratio of -15.61 and a beta of 1.56. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The business had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. Equities analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

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.