Amplitude (NASDAQ:AMPL) Earns "Buy" Rating from DA Davidson

Key Points

• DA Davidson has reiterated a "buy" rating for Amplitude (NASDAQ:AMPL), setting a price target of $16.00, indicating a potential upside of 38.34% from the stock's previous close.
• Amplitude reported a 13.6% year-over-year revenue increase, with quarterly revenues of $83.27 million that exceeded analyst expectations.
• A total of 73.20% of Amplitude's stock is owned by institutional investors and hedge funds, reflecting significant investor interest in the company.

Amplitude (NASDAQ:AMPL - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $16.00 target price on the stock. DA Davidson's target price suggests a potential upside of 38.34% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on AMPL. Piper Sandler lifted their price target on shares of Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Needham & Company LLC raised their price objective on Amplitude from $16.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Benchmark restated a "buy" rating on shares of Amplitude in a report on Friday, July 11th. Bank of America raised their price objective on Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Wall Street Zen lowered Amplitude from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.20.

Amplitude Price Performance

AMPL traded up $0.19 during trading on Monday, reaching $11.57. 160,360 shares of the company's stock were exchanged, compared to its average volume of 1,272,308. Amplitude has a 1 year low of $7.55 and a 1 year high of $14.88. The stock has a market capitalization of $1.18 billion, a P/E ratio of -15.28 and a beta of 1.54. The company's fifty day simple moving average is $11.69 and its 200-day simple moving average is $11.33.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $83.27 million for the quarter, compared to analysts' expectations of $81.29 million. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The business's revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that Amplitude will post -0.62 EPS for the current year.

Insider Transactions at Amplitude

In related news, Director Erica Schultz sold 10,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $11.06, for a total value of $110,600.00. Following the sale, the director directly owned 107,406 shares in the company, valued at approximately $1,187,910.36. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $290,750. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of Amplitude by 5.6% in the second quarter. ProShare Advisors LLC now owns 17,865 shares of the company's stock valued at $222,000 after acquiring an additional 955 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Amplitude by 2.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,739 shares of the company's stock worth $592,000 after purchasing an additional 1,340 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after purchasing an additional 1,455 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Amplitude by 57.8% during the second quarter. Osaic Holdings Inc. now owns 5,132 shares of the company's stock worth $64,000 after purchasing an additional 1,879 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Amplitude by 14.1% during the second quarter. CWM LLC now owns 16,291 shares of the company's stock worth $202,000 after purchasing an additional 2,018 shares during the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

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.

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