Amplitude's (AMPL) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Amplitude (NASDAQ:AMPL - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

A number of other research firms have also recently commented on AMPL. Piper Sandler boosted their price target on Amplitude from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley raised their price objective on Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Robert W. Baird reduced their target price on Amplitude from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. UBS Group dropped their price target on Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Baird R W upgraded Amplitude from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.60.

Amplitude Stock Performance

Shares of AMPL traded down $0.27 during mid-day trading on Tuesday, reaching $12.04. The company had a trading volume of 919,958 shares, compared to its average volume of 743,733. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -15.64 and a beta of 1.40. The firm has a 50-day moving average price of $10.07 and a 200 day moving average price of $10.94. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last announced its quarterly 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 firm had revenue of $79.95 million for the quarter, compared to the consensus estimate of $79.81 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. Amplitude's revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. As a group, research analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.75, for a total transaction of $41,301.25. Following the transaction, the director now owns 87,654 shares of the company's stock, valued at approximately $1,029,934.50. The trade was a 3.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Vishria sold 35,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the transaction, the director now owns 286,859 shares in the company, valued at $3,671,795.20. The trade was a 10.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,515 shares of company stock worth $743,051 over the last three months. 23.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors and hedge funds have recently made changes to their positions in AMPL. Vanguard Group Inc. grew its position in Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after acquiring an additional 447,277 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Amplitude by 1.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,091,044 shares of the company's stock valued at $92,638,000 after purchasing an additional 94,815 shares during the period. Sunriver Management LLC grew its holdings in shares of Amplitude by 2.1% in the first quarter. Sunriver Management LLC now owns 3,850,928 shares of the company's stock valued at $39,241,000 after purchasing an additional 78,120 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Amplitude during the 1st quarter worth approximately $20,292,000. Finally, Geode Capital Management LLC increased its stake in Amplitude by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock worth $20,636,000 after buying an additional 52,033 shares during the period. 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.