Piper Sandler Issues Positive Forecast for Amplitude (NASDAQ:AMPL) Stock Price

Key Points

• Analysts at Piper Sandler have raised the price target for Amplitude from $15.00 to $16.00, indicating a potential upside of 16.41% from its current stock price.
• Amplitude's stock currently has an average rating of "Moderate Buy" among analysts, with a consensus price target of $13.80.
• In recent insider activity, two directors sold a combined total of 34,896 shares, reflecting decreases in their holdings, which raised potential concerns among investors.

Amplitude (NASDAQ:AMPL - Get Free Report) had its price objective raised by analysts at Piper Sandler from $15.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 38.77% from the stock's current price.

Several other analysts have also commented on AMPL. Scotiabank lowered their price objective on shares of Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC lifted their price objective on shares of Amplitude from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley lifted their price target on shares of Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. UBS Group lowered their target price on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, DA Davidson lowered their target price on Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.80.

Amplitude Stock Performance

Shares of Amplitude stock traded down $1.07 during mid-day trading on Thursday, hitting $11.53. 3,467,822 shares of the stock were exchanged, compared to its average volume of 1,371,280. Amplitude has a 12 month low of $7.55 and a 12 month high of $14.88. The company has a 50-day simple moving average of $12.41 and a 200 day simple moving average of $11.56. The company has a market capitalization of $1.14 billion, a P/E ratio of -15.17 and a beta of 1.54.

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 analysts' consensus estimates of $0.01. The business had revenue of $83.27 million for the quarter, compared to analyst estimates of $81.29 million. Amplitude had a negative return on equity of 32.73% and a negative net margin of 30.43%. Amplitude's revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts predict that Amplitude will post -0.62 EPS for the current year.

Insider Activity

In related news, Director Erica Schultz sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director owned 107,406 shares of the company's stock, valued at approximately $1,349,019.36. This represents a 6.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $106,189.98. Following the sale, the director directly owned 79,152 shares in the company, valued at $988,608.48. This trade represents a 9.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,911 shares of company stock worth $571,352. Company insiders own 23.83% of the company's stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new position in shares of Amplitude during the 1st quarter valued at $20,292,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Amplitude by 9.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after buying an additional 770,227 shares during the last quarter. Sunriver Management LLC grew its stake in shares of Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock valued at $39,803,000 after buying an additional 737,600 shares during the last quarter. Meros Investment Management LP grew its stake in shares of Amplitude by 4,682.9% during the first quarter. Meros Investment Management LP now owns 462,314 shares of the company's stock valued at $4,711,000 after buying an additional 452,648 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after buying an additional 447,277 shares during the last quarter. 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.