Amplitude (NASDAQ:AMPL) Given New $16.00 Price Target at Piper Sandler

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 upped by stock analysts at Piper Sandler from $15.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 41.56% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. 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 report on Thursday, April 24th. UBS Group lowered their target price on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Benchmark restated a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. DA Davidson lowered their price target on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley lifted their price target on shares of Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.80.

Amplitude Stock Performance

Shares of AMPL stock traded down $0.23 during mid-day trading on Thursday, reaching $11.30. 1,000,755 shares of the company's stock traded hands, compared to its average volume of 1,180,129. The firm has a market capitalization of $1.12 billion, a PE ratio of -14.85 and a beta of 1.54. The firm has a 50 day moving average price of $12.41 and a two-hundred day moving average price of $11.56. Amplitude has a 12 month low of $7.55 and a 12 month high of $14.88.

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

Insider Transactions at Amplitude

In other Amplitude news, Director Erica Schultz sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total transaction of $94,200.00. Following the transaction, the director owned 107,406 shares of the company's stock, valued at $1,349,019.36. The trade was a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Catherine Wong sold 8,502 shares of the business'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 value of $106,189.98. Following the transaction, the director directly owned 79,152 shares in the company, valued at $988,608.48. The trade was a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,911 shares of company stock valued at $571,352. Corporate insiders own 23.83% of the company's stock.

Institutional Trading of Amplitude

Several institutional investors and hedge funds have recently modified their holdings of AMPL. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Amplitude in the first quarter valued at approximately $947,000. Principal Financial Group Inc. purchased a new position in shares of Amplitude in the first quarter valued at $1,586,000. Thrive Capital Management LLC purchased a new position in shares of Amplitude in the fourth quarter valued at $904,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Amplitude in the 1st quarter worth about $107,000. Finally, Geode Capital Management LLC lifted its stake in shares of Amplitude by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock valued at $20,636,000 after acquiring an additional 52,033 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

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.