Amplitude (NASDAQ:AMPL) Price Target Raised to $16.00 at Bank of America

Amplitude (NASDAQ:AMPL) had its price objective hoisted by research analysts at Bank of America from $14.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 19.44% from the company’s previous close.

A number of other analysts also recently issued reports on AMPL. Piper Sandler lifted their price objective on Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group lifted their price objective on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. Robert W. Baird raised Amplitude from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $17.00 in a research note on Thursday. Finally, DA Davidson raised Amplitude from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.50 to $16.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amplitude currently has an average rating of “Moderate Buy” and a consensus price target of $14.88.

Amplitude Trading Down 7.2 %

Shares of AMPL opened at $13.40 on Thursday. The business’s 50 day moving average is $11.49 and its 200 day moving average is $10.07. The company has a market capitalization of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.45%. The business had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. Equities research analysts predict that Amplitude will post -0.61 earnings per share for the current year.

Insider Transactions at Amplitude

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

Hedge Funds Weigh In On Amplitude

A number of large investors have recently bought and sold shares of AMPL. Creative Planning boosted its holdings in Amplitude by 152.4% during the 3rd quarter. Creative Planning now owns 26,166 shares of the company’s stock valued at $235,000 after acquiring an additional 15,800 shares during the period. Blue Trust Inc. boosted its holdings in Amplitude by 13.5% during the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after acquiring an additional 2,324 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Amplitude by 418.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 66,592 shares of the company’s stock valued at $597,000 after acquiring an additional 53,741 shares during the period. Horrell Capital Management Inc. purchased a new position in Amplitude during the 3rd quarter valued at $1,597,000. Finally, MQS Management LLC boosted its holdings in Amplitude by 38.2% during the 3rd quarter. MQS Management LLC now owns 25,729 shares of the company’s stock valued at $231,000 after acquiring an additional 7,112 shares during the period. 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.