Amplitude (NASDAQ:AMPL) Given “Buy” Rating at DA Davidson

Amplitude (NASDAQ:AMPL)‘s stock had its “buy” rating reiterated by DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $16.00 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 32.96% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Friday, December 13th. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $17.00 in a research report on Thursday, February 20th. Citigroup lifted their target price on shares of Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Amplitude in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Amplitude Price Performance

Shares of AMPL traded up $0.03 during mid-day trading on Tuesday, reaching $12.03. 398,651 shares of the company’s stock traded hands, compared to its average volume of 520,128. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.88. The stock has a market cap of $1.56 billion, a P/E ratio of -15.63 and a beta of 1.35. The stock’s 50-day moving average is $11.80 and its two-hundred day moving average is $10.42.

Amplitude (NASDAQ:AMPL) last announced 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 32.24%. The business had revenue of $78.13 million for the quarter, compared to analyst estimates of $76.68 million. Research analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the sale, the director now owns 276,208 shares of the company’s stock, valued at $3,314,496. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 45,000 shares of company stock valued at $568,129. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMPL. Headlands Technologies LLC acquired a new position in Amplitude during the fourth quarter valued at approximately $38,000. Aquatic Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Canada Pension Plan Investment Board increased its holdings in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Finally, Meros Investment Management LP acquired a new position in shares of Amplitude during the fourth quarter worth about $102,000. Institutional investors and hedge funds 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.