Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Bank of America Analyst Says

Amplitude (NASDAQ:AMPL) had its price target increased by equities research analysts at Bank of America from $14.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 20.86% from the company’s current price.

AMPL has been the subject of a number of other research reports. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Friday, December 13th. Piper Sandler raised their target price on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank raised their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $17.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.44.

Amplitude Price Performance

AMPL stock traded up $1.39 during trading hours on Thursday, reaching $13.24. The stock had a trading volume of 1,261,299 shares, compared to its average volume of 496,572. The stock has a market capitalization of $1.25 billion, a PE ratio of -19.77 and a beta of 1.37. The stock has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $10.00. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates 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 27.44% and a negative return on equity of 27.40%. On average, sell-side analysts forecast that Amplitude will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the transaction, the director now directly owns 276,208 shares of the company’s stock, valued at $3,314,496. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several hedge funds have recently bought and sold shares of AMPL. Headlands Technologies LLC bought a new position in Amplitude in the 4th quarter valued at about $38,000. Aquatic Capital Management LLC increased its holdings in Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after buying an additional 2,647 shares during the period. Canada Pension Plan Investment Board increased its holdings in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. increased its holdings in Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after buying an additional 1,492 shares during the period. Finally, Meros Investment Management LP bought a new stake in shares of Amplitude during the 4th quarter valued at approximately $102,000. 73.20% of the stock is owned by institutional investors.

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.