Amplitude (NASDAQ:AMPL) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Amplitude (NASDAQ:AMPL - Free Report) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley decreased their target price on shares of Amplitude from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Bank of America increased their target price on Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Citigroup lifted their price target on shares of Amplitude from $11.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. UBS Group lifted their price objective on Amplitude from $10.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their target price on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday. Four equities research 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.60.

Amplitude Stock Performance

AMPL traded up $0.14 on Thursday, reaching $10.64. The company had a trading volume of 1,677,036 shares, compared to its average volume of 688,060. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.88. The company's fifty day moving average is $10.08 and its 200 day moving average is $10.74. The stock has a market cap of $1.05 billion, a P/E ratio of -13.82 and a beta of 1.40.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $79.81 million. During the same quarter last year, the company posted $0.01 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric Vishria sold 35,000 shares of Amplitude 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 of the company's stock, valued at $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.83% of the stock is owned by company insiders.

Institutional Trading of Amplitude

Several institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Amplitude in the fourth quarter worth $38,000. Aquatic Capital Management LLC boosted its position in shares of Amplitude by 176.5% in the fourth 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 during the period. Canada Pension Plan Investment Board grew its position in shares of Amplitude by 255.0% during 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. grew its position in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after buying an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP purchased a new position in shares of Amplitude during the fourth quarter worth about $102,000. Institutional investors own 73.20% of the company's stock.

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.