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

Amplitude (NASDAQ:AMPL - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the stock. Needham & Company LLC's target price suggests a potential upside of 101.51% from the stock's current price.

Several other brokerages have also commented on AMPL. Morgan Stanley decreased their price objective on Amplitude from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Baird R W upgraded Amplitude from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 20th. Bank of America lifted their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Robert W. Baird raised shares of Amplitude from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $12.00 to $17.00 in a research note on Thursday, February 20th. Finally, UBS Group increased their target price on Amplitude from $10.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.40.

Amplitude Price Performance

Shares of AMPL opened at $7.94 on Wednesday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.31 and a beta of 1.40. The company has a 50-day moving average of $10.91 and a 200 day moving average of $10.69. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. On average, equities analysts anticipate that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Amplitude

In other news, Director Eric Vishria sold 35,000 shares of the firm's stock in a transaction on Monday, February 24th. The stock was 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 directly owns 286,859 shares in the company, valued at $3,671,795.20. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amplitude

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Amplitude in the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC increased its stake in 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 purchasing an additional 2,647 shares during the period. GAMMA Investing LLC raised its stake in Amplitude by 45,828.6% during the 1st quarter. GAMMA Investing LLC now owns 6,430 shares of the company's stock valued at $631,000 after acquiring an additional 6,416 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Amplitude by 255.0% during the fourth 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 during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after acquiring an additional 1,492 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.

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