Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS raised its Amplitude price target from $13 to $22 and reiterated a Buy rating, implying 36.65% upside from the prior close. Other analysts also lifted targets; the consensus rating is Moderate Buy with a $17 average target.
• Amplitude beat quarterly estimates, reporting adjusted EPS of $0.04 versus $0.03 expected and revenue of $110.64 million versus $107.02 million expected.
• Despite the earnings beat and higher analyst targets, shares fell $1.09 to $16.10 on Thursday. Company insiders also sold about 674,000 shares worth $9.26 million over the past 90 days.

Amplitude (NASDAQ:AMPL - Get Free Report) had its price target hoisted by stock analysts at UBS Group from $13.00 to $22.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 36.65% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. BTIG Research raised their target price on shares of Amplitude from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday. Morgan Stanley raised their price target on Amplitude from $12.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Needham & Company LLC lifted their price objective on Amplitude from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday. DA Davidson boosted their price objective on Amplitude from $10.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Citigroup increased their target price on Amplitude from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Amplitude Price Performance

Shares of AMPL stock traded down $1.09 during trading on Thursday, reaching $16.10. The company had a trading volume of 3,196,278 shares, compared to its average volume of 2,129,371. The firm's 50 day simple moving average is $14.70 and its two-hundred day simple moving average is $9.73. Amplitude has a one year low of $5.51 and a one year high of $18.85. The company has a market capitalization of $1.63 billion, a PE ratio of -21.47 and a beta of 1.30.

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

Insider Buying and Selling at Amplitude

In related news, CEO Spenser Skates sold 6,651 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $17.53, for a total value of $116,592.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathaniel Glenn Crook sold 300,000 shares of Amplitude stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $12.99, for a total value of $3,897,000.00. Following the sale, the insider directly owned 1,622,696 shares in the company, valued at approximately $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. Insiders sold a total of 674,087 shares of company stock worth $9,260,009 over the last 90 days. Company insiders own 21.59% of the company's stock.

Hedge Funds Weigh In On Amplitude

Several large investors have recently added to or reduced their stakes in AMPL. Allspring Global Investments Holdings LLC boosted its stake in Amplitude by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 46,249 shares of the company's stock worth $661,000 after buying an additional 1,816 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Amplitude in the 3rd quarter valued at $337,000. Vise Technologies Inc. raised its stake in shares of Amplitude by 6.4% in the 3rd quarter. Vise Technologies Inc. now owns 14,040 shares of the company's stock valued at $194,000 after buying an additional 843 shares in the last quarter. State of Wyoming raised its stake in shares of Amplitude by 614.5% in the 3rd quarter. State of Wyoming now owns 59,409 shares of the company's stock valued at $823,000 after buying an additional 51,094 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Amplitude by 838.1% during the 3rd quarter. Sterling Capital Management LLC now owns 3,180 shares of the company's stock worth $44,000 after acquiring an additional 2,841 shares during the period. Institutional investors and hedge funds own 73.20% of the company's stock.

Key Amplitude News

Here are the key news stories impacting Amplitude this week:

• Positive Sentiment: Amplitude earned $0.04 per share, above the $0.03 consensus estimate, while revenue of about $110.6 million exceeded expectations of $107.0 million. Reports also highlighted stronger full-year guidance, revenue growth, and improved margins. Quarterly results
• Positive Sentiment: Analysts raised targets following the results: UBS, KeyCorp, and Piper Sandler set targets at $22; Needham raised its target to $21; and BTIG raised its target to $19. The firms maintained Buy or Overweight ratings. UBS price target Analyst forecasts
• Neutral Sentiment: Coverage points to enterprise AI adoption and new products as contributors to revenue growth, potentially supporting the company’s growth outlook. Q3 business deep dive
• Negative Sentiment: AMPL traded lower despite the earnings beat and analyst target increases. The article about the decline does not provide details in the supplied information, so its specific catalyst is unclear. Why Amplitude stock is trading lower

Amplitude Company Profile

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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