Amplitude (NASDAQ:AMPL) Price Target Raised to $12.00

Amplitude (NASDAQ:AMPL) had its price objective boosted by analysts at Robert W. Baird from $10.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 11.94% from the company’s current price.

AMPL has been the subject of a number of other research reports. Scotiabank lifted their target price on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday. Piper Sandler boosted their target price on Amplitude from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, UBS Group dropped their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Amplitude Price Performance

NASDAQ:AMPL opened at $10.72 on Friday. The company’s 50-day simple moving average is $8.91 and its 200 day simple moving average is $8.84. Amplitude has a one year low of $7.37 and a one year high of $14.42. The firm has a market capitalization of $1.32 billion, a P/E ratio of -15.43 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.98 million. Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. Amplitude’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, equities research analysts expect that Amplitude will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently made changes to their positions in AMPL. Vanguard Group Inc. boosted its stake in shares of Amplitude by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock worth $88,214,000 after acquiring an additional 264,477 shares during the last quarter. Janus Henderson Group PLC lifted its position in Amplitude by 3,607.6% during the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after purchasing an additional 836,535 shares in the last quarter. Renaissance Technologies LLC lifted its position in Amplitude by 19.5% during the second quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock valued at $3,677,000 after purchasing an additional 67,500 shares in the last quarter. TD Asset Management Inc grew its holdings in Amplitude by 24.2% during the second quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock valued at $2,001,000 after purchasing an additional 43,780 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Amplitude by 918.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock worth $2,111,000 after buying an additional 174,967 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

About Amplitude

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.