Amplitude (NASDAQ:AMPL) Hits New 12-Month High After Analyst Upgrade

Amplitude, Inc. (NASDAQ:AMPL) shares reached a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $10.00 to $13.00. UBS Group currently has a neutral rating on the stock. Amplitude traded as high as $14.88 and last traded at $13.54, with a volume of 568966 shares. The stock had previously closed at $11.85.

A number of other equities research analysts have also commented on AMPL. Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and increased their price target for the stock 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 lifted their price objective for the company from $12.00 to $17.00 in a report on Thursday. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Friday, December 13th. Piper Sandler lifted their price objective on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday. Finally, DA Davidson upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.50 to $16.00 in a report on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Amplitude currently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the sale, the director now directly owns 279,771 shares in the company, valued at $3,362,847.42. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after buying an additional 447,277 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after purchasing an additional 770,227 shares in the last quarter. FMR LLC lifted its holdings in shares of Amplitude by 0.8% in the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock worth $72,262,000 after purchasing an additional 64,574 shares in the last quarter. Sunriver Management LLC lifted its holdings in shares of Amplitude by 24.3% in the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock worth $39,803,000 after purchasing an additional 737,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company’s stock worth $20,636,000 after purchasing an additional 52,033 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

Amplitude Stock Performance

The business has a fifty day moving average of $11.40 and a 200-day moving average of $10.00. The company has a market capitalization of $1.28 billion, a P/E ratio of -20.35 and a beta of 1.37.

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 analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative return on equity of 27.40% and a negative net margin of 27.44%. The firm had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Sell-side analysts anticipate that Amplitude, Inc. will post -0.67 EPS for the current year.

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.