Amplitude (NASDAQ:AMPL) Upgraded at Wall Street Zen

Amplitude (NASDAQ:AMPL - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other research analysts have also commented on the stock. DA Davidson cut their price target on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley raised their price target on shares of Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Benchmark reaffirmed a "buy" rating on shares of Amplitude in a research report on Friday. UBS Group lowered their price objective 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. Finally, Piper Sandler increased their price objective on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.50.

Amplitude Price Performance

Shares of AMPL stock opened at $12.06 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -15.87 and a beta of 1.54. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The firm's 50-day simple moving average is $12.07 and its 200-day simple moving average is $11.32.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly 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 business had revenue of $79.95 million during the quarter, compared to analysts' expectations of $79.81 million. During the same quarter in the previous year, the business posted $0.01 EPS. The company's quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Catherine Wong sold 8,502 shares of the firm'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 transaction of $106,189.98. Following the completion of the sale, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erica Schultz sold 26,394 shares of the firm'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 $329,661.06. Following the sale, the director directly owned 92,500 shares of the company's stock, valued at $1,155,325. The trade was a 22.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,411 shares of company stock valued at $730,902. 23.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Amplitude

A number of hedge funds have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP lifted its stake in Amplitude by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company's stock worth $436,000 after purchasing an additional 832 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Amplitude by 33.3% in the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock valued at $59,000 after buying an additional 1,455 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after buying an additional 1,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Amplitude by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company's stock valued at $473,000 after buying an additional 2,038 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Amplitude by 2.6% in the fourth quarter. Legal & General Group Plc now owns 82,998 shares of the company's stock valued at $876,000 after buying an additional 2,111 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company's stock.

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.

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