Amplitude (NASDAQ:AMPL) Upgraded by Baird R W to “Strong-Buy” Rating

Baird R W upgraded shares of Amplitude (NASDAQ:AMPL) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other analysts have also issued reports on AMPL. UBS Group boosted their price objective on Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. DA Davidson upgraded Amplitude from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.50 to $16.00 in a research note on Thursday. Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $17.00 in a research note on Thursday. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Friday, December 13th. Finally, Morgan Stanley boosted their price objective on Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amplitude presently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Amplitude Price Performance

Shares of AMPL opened at $14.44 on Thursday. The firm has a market cap of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37. The stock’s fifty day moving average price is $11.46 and its two-hundred day moving average price is $10.03. Amplitude has a 1 year low of $7.37 and a 1 year 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). The firm had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. Sell-side analysts anticipate that Amplitude will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction dated 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 directly owns 276,208 shares in the company, valued at approximately $3,314,496. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Amplitude in the 4th quarter worth about $38,000. Aquatic Capital Management LLC boosted its holdings in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after acquiring an additional 2,647 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after acquiring an additional 5,100 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after acquiring an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new stake in Amplitude during the 4th quarter valued at about $102,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

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.