Amplitude (NASDAQ:AMPL) Price Target Raised to $22.00

Key Points

• KeyCorp raised its Amplitude price target to $22 from $14 and maintained an Overweight rating, implying about 29.9% upside from the stock’s cited $16.94 price.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $16.18, while Piper Sandler also set a $22 target and Needham raised its target to $21.
• Amplitude beat quarterly estimates, reporting EPS of $0.04 versus $0.03 expected and revenue of $110.6 million versus $107.0 million expected; however, its net margin and return on equity remained negative.

Amplitude (NASDAQ:AMPL - Get Free Report) had its price target boosted by research analysts at KeyCorp from $14.00 to $22.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 29.86% from the stock's current price.

AMPL has been the topic of a number of other research reports. Citigroup increased their price objective on shares of Amplitude from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. DA Davidson boosted their target price on shares of Amplitude from $10.00 to $12.50 and gave the company a "buy" rating in a research report on Thursday, August 6th. Bank of America upped their price target on shares of Amplitude from $14.00 to $16.50 and gave the company a "neutral" rating in a report on Wednesday, October 14th. Needham & Company LLC increased their price target on Amplitude from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on Amplitude from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Amplitude has a consensus rating of "Moderate Buy" and an average price target of $16.18.

Amplitude Stock Performance

NASDAQ AMPL traded down $0.25 during trading hours on Thursday, reaching $16.94. The stock had a trading volume of 498,745 shares, compared to its average volume of 2,114,612. Amplitude has a 52-week low of $5.51 and a 52-week high of $18.85. The stock has a fifty day moving average of $14.70 and a 200 day moving average of $9.73. The stock has a market cap of $1.72 billion, a P/E ratio of -22.52 and a beta of 1.30.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Amplitude had a negative net margin of 26.59% and a negative return on equity of 42.62%. The company had revenue of $110.64 million during the quarter, compared to analyst estimates of $107.02 million. On average, equities research analysts forecast that Amplitude will post -0.66 EPS for the current year.

Insider Buying and Selling at Amplitude

In related news, CEO Spenser Skates sold 185,000 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $12.30, for a total value of $2,275,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nathaniel Glenn Crook sold 300,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $12.99, for a total transaction of $3,897,000.00. Following the sale, the insider directly owned 1,622,696 shares in the company, valued at $21,078,821.04. This trade represents a 15.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 674,087 shares of company stock valued at $9,260,009. Company insiders own 21.59% of the company's stock.

Institutional Investors Weigh In On Amplitude

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Amplitude by 368.1% in the first quarter. Dimensional Fund Advisors LP now owns 617,713 shares of the company's stock valued at $4,213,000 after buying an additional 485,752 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Amplitude by 362.8% during the 1st quarter. First Trust Advisors LP now owns 424,566 shares of the company's stock worth $2,896,000 after buying an additional 332,830 shares during the period. Squarepoint Ops LLC lifted its position in shares of Amplitude by 43.4% during the 2nd quarter. Squarepoint Ops LLC now owns 1,021,647 shares of the company's stock valued at $7,816,000 after buying an additional 309,252 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Amplitude during the 2nd quarter valued at approximately $2,204,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Amplitude during the 3rd quarter valued at approximately $1,011,000. 73.20% of the stock is owned by hedge funds and other institutional investors.

Amplitude News Summary

Here are the key news stories impacting Amplitude this week:

• Positive Sentiment: Amplitude reported third-quarter EPS of $0.04, beating the $0.03 consensus and rising from $0.02 a year earlier. Revenue of about $110.6 million also topped expectations of $107.0 million. Zacks report on third-quarter results
• Positive Sentiment: Coverage highlighted 25% revenue growth and a record margin, with enterprise AI adoption and new products contributing to growth. The company’s full-year outlook also exceeded expectations, supporting optimism about momentum beyond the quarter. Q3 business and growth analysis Q3 sales and outlook report
• Positive Sentiment: Needham raised its price target to $21 from $18 and maintained a Buy rating. Analysts have also lifted forecasts after the better-than-expected quarter, signaling increased confidence in Amplitude’s prospects. Analyst forecast changes
• Neutral Sentiment: Despite the positive quarterly results, Amplitude still reported a negative net margin and negative return on equity, so sustained growth and improving profitability remain important to the investment outlook.

About Amplitude

Amplitude, Inc is a software company that provides digital analytics and product experience solutions. Its platform helps organizations collect, analyze and act on user behavior data across websites, mobile applications and other digital products.

The company's offerings include Amplitude Analytics, which enables teams to measure user engagement, retention and conversion; experimentation tools for testing product changes; session replay capabilities for reviewing user interactions; and data management and governance features.

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