Amplitude (NASDAQ:AMPL) Raised to "Buy" at Wall Street Zen

Wall Street Zen upgraded shares of Amplitude (NASDAQ:AMPL - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird dropped their price target on shares of Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. 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 report on Thursday, May 8th. Scotiabank lowered 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. Bank of America boosted their target price on shares of Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Needham & Company LLC restated a "buy" rating and set a $16.00 price objective on shares of Amplitude in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amplitude currently has an average rating of "Moderate Buy" and an average price target of $13.50.

Amplitude Trading Up 1.7%

AMPL traded up $0.21 during mid-day trading on Friday, hitting $12.66. 547,799 shares of the stock were exchanged, compared to its average volume of 819,333. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The company has a market cap of $1.25 billion, a PE ratio of -16.76 and a beta of 1.54. The firm's fifty day moving average is $12.07 and its two-hundred day moving average is $11.33.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its 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 31.01% and a negative return on equity of 32.50%. The company had revenue of $79.95 million for the quarter, compared to analysts' expectations of $79.81 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Insider Activity at Amplitude

In related news, Director Erica Schultz sold 26,394 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total value of $329,661.06. Following the transaction, the director owned 92,500 shares in the company, valued at approximately $1,155,325. The trade was a 22.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction that occurred on 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 directly owned 79,152 shares of the company's stock, valued at $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,411 shares of company stock valued at $730,902 in the last ninety days. Corporate insiders own 23.83% of the company's stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. acquired a new position in shares of Amplitude during the first quarter valued at about $20,292,000. T. Rowe Price Investment Management Inc. grew its position in Amplitude by 9.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after purchasing an additional 770,227 shares during the last quarter. Sunriver Management LLC raised its stake in Amplitude by 24.3% during the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock worth $39,803,000 after acquiring an additional 737,600 shares during the period. Meros Investment Management LP increased its position in Amplitude by 4,682.9% in the first quarter. Meros Investment Management LP now owns 462,314 shares of the company's stock worth $4,711,000 after purchasing an additional 452,648 shares during the last quarter. Finally, Vanguard Group Inc. boosted 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 purchasing an additional 447,277 shares during the period. 73.20% of the stock is owned by institutional investors.

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.