Amplitude (NASDAQ:AMPL) Given New $21.00 Price Target at Needham & Company LLC

Amplitude (NASDAQ:AMPL) had its target price hoisted by research analysts at Needham & Company LLC from $18.00 to $21.00 in a research report issued on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 22.16% from the stock’s current price.

A number of other equities analysts also recently issued reports on AMPL. Bank of America raised their price target on Amplitude from $14.00 to $16.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. BTIG Research upped their price objective on Amplitude from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. DA Davidson increased their target price on Amplitude from $10.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Amplitude from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, UBS Group raised their target price on Amplitude from $8.50 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amplitude has a consensus rating of “Moderate Buy” and an average price target of $15.45.

Amplitude Stock Up 2.1%

Shares of Amplitude stock opened at $17.19 on Thursday. Amplitude has a twelve month low of $5.51 and a twelve month high of $17.84. The company’s 50 day moving average is $14.70 and its 200 day moving average is $9.73. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -22.92 and a beta of 1.30.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Wednesday, November 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $110.64 million during the quarter, compared to the consensus estimate of $107.02 million. Amplitude had a negative net margin of 26.59% and a negative return on equity of 42.62%. Sell-side analysts expect that Amplitude will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling at Amplitude

In other news, insider Nathaniel Glenn Crook sold 300,000 shares of Amplitude stock in a transaction on Friday, September 4th. The shares were sold at an average price of $12.99, for a total transaction of $3,897,000.00. Following the transaction, the insider owned 1,622,696 shares in the company, valued at $21,078,821.04. This trade represents a 15.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Spenser Skates sold 185,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $12.30, for a total transaction of $2,275,500.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 674,087 shares of company stock worth $9,260,009 in the last quarter. Corporate insiders own 21.59% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors and hedge funds have recently bought and sold shares of AMPL. Allspring Global Investments Holdings LLC grew its stake in shares of Amplitude by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,249 shares of the company’s stock valued at $661,000 after acquiring an additional 1,816 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Amplitude during the 3rd quarter worth approximately $337,000. Vise Technologies Inc. raised its stake in Amplitude by 6.4% during the 3rd quarter. Vise Technologies Inc. now owns 14,040 shares of the company’s stock worth $194,000 after acquiring an additional 843 shares during the period. State of Wyoming lifted its holdings in Amplitude by 614.5% during the third quarter. State of Wyoming now owns 59,409 shares of the company’s stock valued at $823,000 after purchasing an additional 51,094 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Amplitude by 838.1% during the third quarter. Sterling Capital Management LLC now owns 3,180 shares of the company’s stock valued at $44,000 after purchasing an additional 2,841 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Amplitude

Amplitude, Inc is a software company that provides digital analytics and product experience solutions. Its platform helps organizations collect, analyze and act on user behavior data across websites, mobile applications and other digital products.

The company’s offerings include Amplitude Analytics, which enables teams to measure user engagement, retention and conversion; experimentation tools for testing product changes; session replay capabilities for reviewing user interactions; and data management and governance features.