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

Amplitude (NASDAQ:AMPL) had its target price raised by Scotiabank from $10.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 14.39% from the stock’s current price.

AMPL has been the topic of a number of other research reports. Robert W. Baird decreased their target price on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Piper Sandler raised their target price on shares of Amplitude from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, UBS Group decreased 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 equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Amplitude Stock Performance

Shares of NASDAQ AMPL opened at $10.49 on Friday. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42. The firm’s 50 day moving average price is $8.91 and its 200 day moving average price is $8.84. The firm has a market cap of $1.30 billion, a P/E ratio of -15.43 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last announced its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The firm had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Amplitude will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Amplitude

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Amplitude in the 1st quarter valued at $32,000. Quest Partners LLC acquired a new position in shares of Amplitude during the 2nd quarter valued at $41,000. Russell Investments Group Ltd. acquired a new position in shares of Amplitude during the 1st quarter valued at $45,000. Principal Financial Group Inc. acquired a new position in shares of Amplitude during the 2nd quarter valued at $92,000. Finally, MQS Management LLC acquired a new position in shares of Amplitude during the 1st quarter valued at $120,000. 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.