Amplitude, Inc. (NASDAQ:AMPL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.50.

AMPL has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and set a $16.00 target price on shares of Amplitude in a research report on Wednesday, June 11th. Scotiabank reduced their target price 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. Bank of America lifted their price target on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, DA Davidson dropped their price target on Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, April 14th.

Insider Activity

In other news, Director Catherine Wong sold 8,502 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $106,189.98. Following the completion of the sale, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. The trade was a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erica Schultz sold 26,394 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $329,661.06. Following the transaction, the director owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,411 shares of company stock valued at $730,902. Insiders own 23.83% of the company's stock.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP boosted its position in shares of Amplitude by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company's stock valued at $436,000 after purchasing an additional 832 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Amplitude by 33.3% in the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after acquiring an additional 1,455 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after acquiring an additional 1,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Amplitude by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company's stock worth $473,000 after acquiring an additional 2,038 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Amplitude by 2.6% in the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company's stock worth $876,000 after acquiring an additional 2,111 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

Amplitude Trading Up 4.1%

Shares of NASDAQ AMPL traded up $0.50 during mid-day trading on Friday, hitting $12.76. The company had a trading volume of 1,272,518 shares, compared to its average volume of 802,491. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.79 and a beta of 1.54. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The stock's 50-day moving average price is $11.72 and its 200-day moving average price is $11.26.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The company had revenue of $79.95 million during the quarter, compared to analysts' expectations of $79.81 million. Amplitude had a negative net margin of 31.01% and a negative return on equity of 32.50%. Amplitude's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. As a group, equities research analysts forecast that Amplitude will post -0.62 earnings per share 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.