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

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.50.

Several brokerages have commented on AMPL. Morgan Stanley upped their price objective on Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Scotiabank cut their price objective on Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. DA Davidson cut their price objective on Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Robert W. Baird cut their price objective on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 target price on shares of Amplitude in a report on Wednesday, June 11th.

Amplitude Stock Performance

Amplitude stock traded up $0.39 during mid-day trading on Friday, hitting $13.29. The company's stock had a trading volume of 1,308,605 shares, compared to its average volume of 809,803. The company has a 50 day moving average of $11.94 and a 200-day moving average of $11.30. The stock has a market cap of $1.31 billion, a PE ratio of -17.49 and a beta of 1.54. Amplitude has a one year low of $7.37 and a one year high of $14.88.

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

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction on 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 directly owned 79,152 shares in the company, valued at approximately $988,608.48. This represents a 9.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Vishria sold 25,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total value of $253,750.00. Following the sale, the director owned 261,859 shares of the company's stock, valued at $2,657,868.85. This trade represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,411 shares of company stock worth $730,902. 23.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of hedge funds have recently made changes to their positions in AMPL. Bank of New York Mellon Corp lifted its stake in shares of Amplitude by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 955,293 shares of the company's stock worth $10,078,000 after purchasing an additional 15,239 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amplitude by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company's stock worth $7,210,000 after purchasing an additional 31,800 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Amplitude by 16.6% during the 4th quarter. M&T Bank Corp now owns 182,712 shares of the company's stock worth $1,927,000 after purchasing an additional 26,024 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Amplitude by 17.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,572 shares of the company's stock worth $312,000 after purchasing an additional 4,451 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Amplitude during the 4th quarter worth $252,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

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.