Amplitude (NASDAQ:AMPL) Price Target Raised to $16.00 at Bank of America

Amplitude (NASDAQ:AMPL) had its price objective raised by Bank of America from $14.00 to $16.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Scotiabank lifted their price objective on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. UBS Group lifted their price target on shares of Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. DA Davidson raised shares of Amplitude from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.50 to $16.00 in a report on Thursday. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $17.00 in a report on Thursday. Finally, Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Amplitude Stock Up 21.9 %

NASDAQ:AMPL opened at $14.44 on Thursday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -21.55 and a beta of 1.37. The company’s 50 day moving average price is $11.46 and its 200-day moving average price is $10.03. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The business had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. As a group, sell-side analysts anticipate that Amplitude will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In other news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.02, for a total transaction of $77,372.74. Following the transaction, the director now owns 279,771 shares in the company, valued at $3,362,847.42. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its position in Amplitude by 9.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company’s stock worth $94,911,000 after buying an additional 770,227 shares in the last quarter. Sunriver Management LLC grew its stake in shares of Amplitude by 24.3% during the 4th quarter. Sunriver Management LLC now owns 3,772,808 shares of the company’s stock valued at $39,803,000 after acquiring an additional 737,600 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in Amplitude by 56.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock worth $13,300,000 after acquiring an additional 535,624 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amplitude by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company’s stock worth $96,951,000 after acquiring an additional 447,277 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Amplitude during the 4th quarter worth approximately $4,320,000. 73.20% of the stock is 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.