Amplitude (NASDAQ:AMPL) Stock Price Expected to Rise, Bank of America Analyst Says

Amplitude (NASDAQ:AMPL - Free Report) had its target price upped by Bank of America from $13.00 to $15.00 in a research note issued to investors on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research firms also recently issued reports on AMPL. UBS Group dropped their price objective 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. Scotiabank reduced their price target on shares of Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Citigroup boosted their price objective on shares of Amplitude from $11.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. DA Davidson decreased their target price on Amplitude from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Baird R W raised Amplitude from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amplitude has a consensus rating of "Moderate Buy" and a consensus price target of $13.50.

Amplitude Trading Down 1.1%

Shares of AMPL stock traded down $0.13 during trading on Monday, reaching $11.73. 992,005 shares of the company's stock traded hands, compared to its average volume of 772,593. The firm's 50-day moving average is $10.81 and its 200 day moving average is $11.19. The company has a market capitalization of $1.16 billion, a P/E ratio of -15.43 and a beta of 1.56. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $79.81 million. During the same period in the previous year, the firm earned $0.01 EPS. The company's revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Erica Schultz sold 26,394 shares of the stock in a transaction 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 now directly owns 92,500 shares of the company's stock, valued at $1,155,325. This trade represents a 22.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $10.15, for a total value of $253,750.00. Following the completion of the sale, the director now owns 261,859 shares of the company's stock, valued at $2,657,868.85. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,411 shares of company stock worth $730,902 in the last quarter. Corporate insiders own 23.83% of the company's stock.

Institutional Trading of Amplitude

A number of institutional investors have recently made changes to their positions in AMPL. Occudo Quantitative Strategies LP raised its holdings in shares of Amplitude by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company's stock valued at $436,000 after purchasing an additional 832 shares during the last quarter. Rhumbline Advisers grew its position in Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company's stock worth $1,076,000 after purchasing an additional 1,040 shares during the period. Russell Investments Group Ltd. raised its stake in Amplitude by 33.3% during the 1st 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. raised its stake in Amplitude by 22.3% during the 4th 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amplitude by 4.6% during the 1st 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 period. Hedge funds and other institutional investors 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.