Amplitude (NASDAQ:AMPL) Given New $18.00 Price Target at Needham & Company LLC

Key Points

• Needham & Company LLC has raised its price target for Amplitude (NASDAQ: AMPL) from $16.00 to $18.00, indicating a potential upside of 47.30% from the current price.
• Amplitude's average rating stands at "Moderate Buy" with several rating revisions, demonstrating a mix of buy and hold sentiments among analysts.
• The company's recent quarterly earnings showed a revenue of $83.27 million, surpassing analysts' expectations and marking a 13.6% year-over-year increase.

Amplitude (NASDAQ:AMPL - Get Free Report) had its price target upped by analysts at Needham & Company LLC from $16.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 56.11% from the company's current price.

A number of other brokerages have also recently commented on AMPL. Wall Street Zen cut shares of Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. DA Davidson reduced their target price on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Scotiabank reduced their target price on shares of 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 increased their target price on shares of Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, UBS Group reduced their target price on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.80.

Amplitude Stock Performance

Shares of NASDAQ:AMPL traded down $1.07 during trading on Thursday, reaching $11.53. The stock had a trading volume of 3,467,822 shares, compared to its average volume of 1,371,280. Amplitude has a 1-year low of $7.55 and a 1-year high of $14.88. The stock has a market cap of $1.14 billion, a PE ratio of -15.17 and a beta of 1.54. The business has a fifty day moving average price of $12.41 and a 200-day moving average price of $11.56.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Amplitude had a negative return on equity of 32.73% and a negative net margin of 30.43%. The firm had revenue of $83.27 million during the quarter, compared to analysts' expectations of $81.29 million. The firm's revenue was up 13.6% compared to the same quarter last year. Sell-side analysts expect that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Catherine Wong sold 8,502 shares of the company'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 $106,189.98. Following the transaction, the director owned 79,152 shares of the company's stock, valued at $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Erica Schultz sold 26,394 shares of Amplitude stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $329,661.06. Following the sale, the director owned 92,500 shares of the company's stock, valued at approximately $1,155,325. This represents a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,911 shares of company stock worth $571,352. Corporate insiders own 23.83% of the company's stock.

Institutional Investors Weigh In On Amplitude

Institutional investors have recently made changes to their positions in the stock. Aquatic Capital Management LLC increased its position in shares of Amplitude by 176.5% during 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 last quarter. Russell Investments Group Ltd. increased its position 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 during the last quarter. GAMMA Investing LLC increased its position in shares of Amplitude by 45,828.6% during the first quarter. GAMMA Investing LLC now owns 6,430 shares of the company's stock valued at $631,000 after acquiring an additional 6,416 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock valued at $75,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after acquiring an additional 1,492 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.