Needham & Company LLC Reaffirms Buy Rating for Amplitude (NASDAQ:AMPL)

Amplitude (NASDAQ:AMPL - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 35.94% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Bank of America increased their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Citigroup upped their price target on shares of Amplitude from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Piper Sandler lifted their price objective on shares of Amplitude from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Scotiabank dropped their target price on shares of Amplitude from $12.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird cut their target price on shares of Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. 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 stock. According to data from MarketBeat, Amplitude presently has a consensus rating of "Moderate Buy" and an average price target of $13.60.

Amplitude Price Performance

Shares of Amplitude stock opened at $11.77 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -15.29 and a beta of 1.40. The stock's 50-day moving average is $10.05 and its 200-day moving average is $10.87. Amplitude has a one year low of $7.37 and a one year high of $14.88.

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

Insider Buying and Selling at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $10.15, for a total value of $253,750.00. Following the transaction, the director now owns 261,859 shares of the company's stock, valued at approximately $2,657,868.85. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.83% of the company's stock.

Institutional Trading of Amplitude

Several institutional investors have recently added to or reduced their stakes in AMPL. Headlands Technologies LLC bought a new position in Amplitude during the 4th quarter worth $38,000. Aquatic Capital Management LLC grew its stake in shares of Amplitude by 176.5% in 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. increased its position in Amplitude by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after acquiring an additional 1,455 shares during the period. GAMMA Investing LLC increased its position in Amplitude by 45,828.6% during the first quarter. GAMMA Investing LLC now owns 6,430 shares of the company's stock worth $631,000 after acquiring an additional 6,416 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock worth $75,000 after purchasing an additional 5,100 shares in the last quarter. 73.20% of the stock is currently owned by 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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