Piper Sandler Raises Amplitude (NASDAQ:AMPL) Price Target to $11.00

Amplitude (NASDAQ:AMPL - Get Free Report) had its price objective lifted by research analysts at Piper Sandler from $9.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price suggests a potential upside of 11.22% from the stock's current price.

AMPL has been the subject of several other research reports. Robert W. Baird decreased their price objective on Amplitude from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, August 9th. UBS Group cut their price objective on shares of Amplitude from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Amplitude has a consensus rating of "Hold" and a consensus target price of $11.00.

Amplitude Stock Down 5.7 %

AMPL stock traded down $0.60 during trading on Friday, reaching $9.89. The stock had a trading volume of 911,251 shares, compared to its average volume of 518,967. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -15.43 and a beta of 1.31. The company's 50 day moving average is $8.91 and its two-hundred day moving average is $8.84. Amplitude has a one year low of $7.37 and a one year high of $14.42.

Amplitude (NASDAQ:AMPL - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.18). Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.98 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. As a group, research analysts predict that Amplitude will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Amplitude by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company's stock valued at $141,000 after purchasing an additional 1,099 shares during the period. Swiss National Bank increased its stake in shares of Amplitude by 7.5% during the first quarter. Swiss National Bank now owns 132,100 shares of the company's stock valued at $1,437,000 after buying an additional 9,200 shares during the period. Inspire Investing LLC bought a new position in shares of Amplitude during the first quarter valued at approximately $358,000. Headlands Technologies LLC purchased a new stake in Amplitude in the first quarter worth $32,000. Finally, Russell Investments Group Ltd. bought a new stake in Amplitude in the first quarter valued at $45,000. 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.