Amplitude's (AMPL) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Amplitude (NASDAQ:AMPL - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $16.00 target price on the stock.

A number of other research firms have also commented on AMPL. Bank of America upped their price target on shares of Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group lowered their price objective on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Robert W. Baird dropped their price objective on Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Citigroup raised their target price on shares of Amplitude from $11.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Finally, Piper Sandler upped their price target on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.60.

Amplitude Price Performance

AMPL stock traded down $0.17 during trading on Wednesday, reaching $12.14. 544,363 shares of the company were exchanged, compared to its average volume of 1,110,813. The company has a 50-day moving average of $10.53 and a two-hundred day moving average of $11.14. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -15.77 and a beta of 1.56.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $79.95 million for the quarter, compared to analyst estimates of $79.81 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. On average, analysts forecast that Amplitude will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total transaction of $253,750.00. Following the transaction, the director now owns 261,859 shares of the company's stock, valued at $2,657,868.85. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Catherine Wong sold 3,515 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.75, for a total transaction of $41,301.25. Following the completion of the sale, the director now owns 87,654 shares in the company, valued at approximately $1,029,934.50. This trade represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.83% of the stock is currently owned by company insiders.

Institutional Trading of Amplitude

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Amplitude in the fourth quarter valued at approximately $38,000. Aquatic Capital Management LLC increased its holdings in Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. increased its holdings 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 valued at $59,000 after acquiring an additional 1,455 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock worth $75,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position 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 purchasing an additional 1,492 shares during the last quarter. 73.20% of the stock is currently 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.