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

Needham & Company LLC reiterated their buy rating on shares of Amplitude (NASDAQ:AMPL - Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $16.00 target price on the stock.

A number of other equities research analysts have also issued reports on AMPL. Bank of America upped their price objective on shares of Amplitude from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, June 16th. Robert W. Baird dropped their price target 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. Piper Sandler lifted their price target 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. Morgan Stanley upped their price objective on Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, UBS Group cut their target price on Amplitude from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Four 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Amplitude Trading Down 3.2%

AMPL traded down $0.43 during trading on Thursday, hitting $12.86. The company's stock had a trading volume of 952,576 shares, compared to its average volume of 812,035. The business's fifty day simple moving average is $12.01 and its 200 day simple moving average is $11.31. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -16.92 and a beta of 1.54.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly 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 company had revenue of $79.95 million during the quarter, compared to analysts' expectations of $79.81 million. During the same quarter last year, the company earned $0.01 earnings per share. Amplitude's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In other news, Director Catherine Wong sold 8,502 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total value of $106,189.98. Following the completion of the transaction, the director owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction that occurred 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 directly owned 92,500 shares in the company, valued at approximately $1,155,325. The trade was a 22.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,411 shares of company stock worth $730,902. 23.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently modified their holdings of AMPL. Headlands Technologies LLC purchased a new stake in Amplitude during the 4th quarter worth about $38,000. Aquatic Capital Management LLC boosted its position in Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Amplitude by 33.3% during the 1st quarter. Russell Investments Group Ltd. now owns 5,818 shares of the company's stock worth $59,000 after purchasing an additional 1,455 shares during the last quarter. GAMMA Investing LLC boosted 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 last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Amplitude by 255.0% in 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 period. Institutional investors and hedge funds own 73.20% of the company's stock.

Amplitude Company Profile

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.