Amplitude (NASDAQ:AMPL) Raised to “Strong-Buy” at BTIG Research

by · The Cerbat Gem

Amplitude (NASDAQ:AMPL – Get Free Report) was upgraded by equities researchers at BTIG Research to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on AMPL. UBS Group raised shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, October 31st. Robert W. Baird lowered their price objective on shares of Amplitude from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. Finally, DA Davidson restated a “buy” rating and set a $16.00 price target on shares of Amplitude in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and an average price target of $14.30.

Check Out Our Latest Report on AMPL

Amplitude Stock Performance

AMPL opened at $11.71 on Tuesday. The stock has a market capitalization of $1.56 billion, a PE ratio of -14.57 and a beta of 1.51. The stock’s 50 day moving average price is $10.33 and its 200-day moving average price is $11.32. Amplitude has a 52-week low of $7.55 and a 52-week high of $14.88.

Amplitude (NASDAQ:AMPL – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $86.29 million. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. Research analysts forecast that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In related news, CEO Spenser Skates sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $10.99, for a total value of $4,396,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Casey acquired 30,000 shares of Amplitude stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $9.99 per share, with a total value of $299,700.00. Following the transaction, the chief financial officer owned 1,160,608 shares in the company, valued at $11,594,473.92. This represents a 2.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 430,000 shares of company stock valued at $4,708,300 in the last ninety days. 23.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Amplitude during the 3rd quarter valued at about $32,000. State of Alaska Department of Revenue bought a new stake in shares of Amplitude during the third quarter valued at approximately $48,000. Osaic Holdings Inc. raised its holdings in Amplitude by 57.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock worth $64,000 after acquiring an additional 1,879 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Amplitude by 33.3% in the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company’s stock valued at $59,000 after acquiring an additional 1,455 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Amplitude by 86.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,477 shares of the company’s stock valued at $130,000 after purchasing an additional 4,858 shares during the last quarter. Institutional investors own 73.20% of the company’s stock.

About Amplitude

(Get Free Report)

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.

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