Needham & Company LLC Reiterates “Buy” Rating for Amplitude (NASDAQ:AMPL)

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $16.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 33.33% from the stock’s current price.

A number of other brokerages have also recently commented on AMPL. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Friday, December 13th. Bank of America increased their price target on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Piper Sandler lifted their price objective on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. UBS Group increased their target price on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $12.00 to $17.00 in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amplitude has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Amplitude Stock Performance

Amplitude stock opened at $12.00 on Tuesday. The company’s 50 day simple moving average is $11.80 and its 200-day simple moving average is $10.42. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -15.58 and a beta of 1.35.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The firm had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Equities analysts expect that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity at Amplitude

In other news, Director Eric Vishria sold 35,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the transaction, the director now directly owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 45,000 shares of company stock valued at $568,129 over the last quarter. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPL. T. Rowe Price Investment Management Inc. lifted 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 worth $94,911,000 after buying an additional 770,227 shares during the last quarter. Sunriver Management LLC raised its stake in Amplitude by 24.3% during the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after acquiring an additional 737,600 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Amplitude by 56.6% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after acquiring an additional 535,624 shares during the last quarter. Vanguard Group Inc. boosted its stake in Amplitude by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock valued at $96,951,000 after acquiring an additional 447,277 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Amplitude during the fourth quarter worth about $4,320,000. 73.20% of the stock is owned by institutional investors and hedge funds.

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.