Needham & Company LLC Initiates Coverage on Amplitude (NASDAQ:AMPL)

Equities researchers at Needham & Company LLC initiated coverage on shares of Amplitude (NASDAQ:AMPL - Get Free Report) in a report released on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $16.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 31.26% from the company's previous close.

A number of other equities analysts also recently commented on the stock. Bank of America raised their price objective on shares of Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Morgan Stanley raised their price target on shares of Amplitude from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. KeyCorp raised Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 target price for the company in a report on Friday, December 13th. UBS Group upped their price target on Amplitude from $10.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, Robert W. Baird upgraded shares of Amplitude from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $12.00 to $17.00 in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.00.

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Amplitude Trading Down 4.5 %

NASDAQ:AMPL traded down $0.57 on Monday, hitting $12.19. 1,285,726 shares of the company's stock traded hands, compared to its average volume of 751,452. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The firm has a 50-day moving average price of $11.71 and a 200-day moving average price of $10.33. The company has a market cap of $1.58 billion, a PE ratio of -15.83 and a beta of 1.37.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $78.13 million for the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. On average, research analysts forecast that Amplitude will post -0.62 EPS for the current fiscal year.

Insider Activity at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the transaction, the director now directly owns 276,208 shares in the company, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 45,000 shares of company stock valued at $568,129 over the last quarter. Corporate insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMPL. T. Rowe Price Investment Management Inc. boosted its position in shares of Amplitude by 9.4% during 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 purchasing an additional 770,227 shares in the last quarter. Sunriver Management LLC grew its stake in Amplitude by 24.3% in the fourth 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 shares of Amplitude by 56.6% in the third 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. lifted its holdings in shares of Amplitude by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after purchasing an additional 447,277 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Amplitude in the 4th quarter valued at approximately $4,320,000. 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.