DA Davidson Upgrades Amplitude (NASDAQ:AMPL) to “Buy”

Amplitude (NASDAQ:AMPL) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has a $16.00 price target on the stock, up from their prior price target of $12.50. DA Davidson’s price target suggests a potential upside of 19.44% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $11.00 in a research report on Monday, January 13th. 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 report 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 report on Friday, November 8th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $15.00 in a report on Monday, January 6th. Finally, 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 report on Friday, December 13th. Three equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.88.

Amplitude Trading Down 7.2 %

NASDAQ:AMPL opened at $13.40 on Thursday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company has a 50-day moving average of $11.49 and a 200-day moving average of $10.07. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -17.40 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share 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. On average, research analysts forecast that Amplitude will post -0.61 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Amplitude by 5.1% during 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. T. Rowe Price Investment Management Inc. raised its position in Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock valued at $94,911,000 after acquiring an additional 770,227 shares in the last quarter. FMR LLC raised its position in Amplitude by 0.8% during the third quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after acquiring an additional 64,574 shares in the last quarter. Sunriver Management LLC raised its position in Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after acquiring an additional 737,600 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Amplitude by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock valued at $20,636,000 after acquiring an additional 52,033 shares in the last quarter. Institutional investors 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.