Amplitude’s (AMPL) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Amplitude (NASDAQ:AMPL) in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $16.00 price objective on the stock.

AMPL has been the topic of several other research reports. Robert W. Baird upgraded 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 report on Thursday, February 20th. Scotiabank lowered their price objective on Amplitude from $12.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Baird R W upgraded shares of Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup increased their price target on shares of Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, Piper Sandler increased their target price on shares of Amplitude from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Amplitude Price Performance

NASDAQ:AMPL opened at $10.64 on Thursday. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The business has a 50 day moving average of $10.08 and a 200 day moving average of $10.74. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -13.82 and a beta of 1.40.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $79.95 million during the quarter, compared to analysts’ expectations of $79.81 million. During the same period last year, the company posted $0.01 EPS. Amplitude’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Amplitude will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC lifted its position in Amplitude by 260.7% during the first quarter. Headlands Technologies LLC now owns 13,017 shares of the company’s stock valued at $133,000 after buying an additional 9,408 shares during the period. Silver Lake Group L.L.C. purchased a new position in Amplitude during the 1st quarter valued at about $159,000. Liberty Mutual Group Asset Management Inc. bought a new stake in Amplitude during the first quarter worth about $947,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Amplitude by 16.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,989 shares of the company’s stock worth $306,000 after purchasing an additional 4,301 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Amplitude by 5.8% during the first quarter. TD Asset Management Inc now owns 299,694 shares of the company’s stock valued at $3,054,000 after purchasing an additional 16,408 shares during the last quarter. 73.20% of the stock is currently owned by 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.