Bank of America Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL - Get Free Report) had its price objective hoisted by analysts at Bank of America from $13.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 27.44% from the stock's current price.

A number of other research analysts have also weighed in on AMPL. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 target price on shares of Amplitude in a report on Wednesday, June 11th. DA Davidson decreased their target price 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. UBS Group cut their price target 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. Robert W. Baird lowered their price objective on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their target price on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Amplitude Stock Up 3.5%

AMPL traded up $0.40 during trading hours on Monday, hitting $11.77. The stock had a trading volume of 126,609 shares, compared to its average volume of 759,862. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The company's fifty day simple moving average is $10.65 and its 200 day simple moving average is $11.17. The stock has a market cap of $1.16 billion, a PE ratio of -15.27 and a beta of 1.56.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The business had revenue of $79.95 million during the quarter, compared to analysts' expectations of $79.81 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. Amplitude's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, equities analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Activity

In other news, Director Erica Schultz sold 26,394 shares of Amplitude 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 completion of the transaction, the director now owns 92,500 shares of the company's stock, valued at $1,155,325. The trade was a 22.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Catherine Wong sold 3,515 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.75, for a total value of $41,301.25. Following the completion of the transaction, the director now owns 87,654 shares of the company's stock, valued at $1,029,934.50. This represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,411 shares of company stock valued at $730,902. Company insiders own 23.83% of the company's stock.

Institutional Trading of Amplitude

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Amplitude in the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC grew its stake in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock valued at $44,000 after acquiring an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock valued at $59,000 after purchasing an additional 1,455 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock valued at $75,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock worth $86,000 after buying an additional 1,492 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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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