Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Amplitude (NASDAQ:AMPL) had its target price upped by investment analysts at Robert W. Baird from $14.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 26.16% from the company’s previous close.

AMPL has been the topic of a number of other research reports. UBS Group raised Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, October 31st. BTIG Research assumed coverage on shares of Amplitude in a report on Tuesday. They issued a “buy” rating and a $14.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $16.00 price objective on shares of Amplitude in a research report on Thursday, November 6th. DA Davidson reiterated a “buy” rating and issued a $16.00 target price on shares of Amplitude in a report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amplitude presently has a consensus rating of “Moderate Buy” and an average price target of $14.40.

Amplitude Trading Up 3.5%

NASDAQ AMPL opened at $11.89 on Friday. The company has a 50-day moving average price of $10.36 and a two-hundred day moving average price of $11.32. Amplitude has a 52 week low of $7.55 and a 52 week high of $14.88. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -14.86 and a beta of 1.51.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities research analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, CFO Andrew Casey acquired 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $9.99 per share, with a total value of $299,700.00. Following the purchase, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. This trade represents a 2.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Erica Schultz sold 10,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.88, for a total transaction of $108,800.00. Following the sale, the director directly owned 114,906 shares in the company, valued at approximately $1,250,177.28. This trade represents a 8.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 430,000 shares of company stock valued at $4,708,300 over the last ninety days. Corporate insiders own 23.83% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Amplitude in the first quarter worth about $671,000. Nuveen LLC acquired a new position in shares of Amplitude during the 1st quarter valued at about $2,526,000. Cresset Asset Management LLC increased its holdings in shares of Amplitude by 54.4% during the 1st quarter. Cresset Asset Management LLC now owns 83,557 shares of the company’s stock valued at $851,000 after acquiring an additional 29,444 shares during the last quarter. Wilson Asset Management International PTY Ltd. bought a new position in shares of Amplitude in the 2nd quarter valued at approximately $1,536,000. Finally, Kodai Capital Management LP acquired a new stake in Amplitude in the 1st quarter worth approximately $1,409,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Company Profile

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.