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

by · The Markets Daily

Amplitude (NASDAQ:AMPL – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $16.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 33.33% from the company’s current price.

AMPL has been the topic of a number of other reports. Morgan Stanley raised their target price on Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. DA Davidson raised Amplitude from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.50 to $16.00 in a report on Thursday, February 20th. Baird R W upgraded shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 20th. 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 note on Thursday, February 20th. Finally, Bank of America raised their price target on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Read Our Latest Stock Analysis on Amplitude

Amplitude Price Performance

AMPL stock opened at $12.00 on Tuesday. The firm’s fifty day simple moving average is $11.80 and its 200-day simple moving average is $10.42. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The company has a market capitalization of $1.55 billion, a P/E ratio of -15.58 and a beta of 1.35.

Amplitude (NASDAQ:AMPL – Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. As a group, sell-side analysts forecast that Amplitude will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Eric Vishria sold 35,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the director now owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 45,000 shares of company stock valued at $568,129 in the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

Large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of Amplitude by 9.4% during 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 acquiring an additional 770,227 shares during the last quarter. Sunriver Management LLC raised its stake in Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after purchasing an additional 737,600 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Amplitude by 56.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after purchasing an additional 535,624 shares during the last quarter. Vanguard Group Inc. grew 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 buying an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Amplitude during the 4th quarter worth approximately $4,320,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

Amplitude Company Profile

(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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