UBS Group Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL) had its price objective increased by UBS Group from $10.00 to $13.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on AMPL. Robert W. Baird raised Amplitude from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $17.00 in a report on Thursday. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $10.00 to $11.00 in a report on Monday, January 13th. Scotiabank boosted their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 13th. Finally, DA Davidson raised shares of Amplitude from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.50 to $16.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Amplitude currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

Amplitude Stock Up 21.9 %

Shares of NASDAQ:AMPL opened at $14.44 on Thursday. The company has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $10.03. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.88. The firm has a market capitalization of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37.

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

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the firm’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 sale, the director now owns 276,208 shares in the company, valued at $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently modified their holdings of AMPL. Occudo Quantitative Strategies LP lifted its position in Amplitude by 2.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock worth $436,000 after buying an additional 832 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Amplitude by 1.0% during the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after acquiring an additional 1,040 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after acquiring an additional 1,492 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Amplitude by 2.6% in the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock valued at $876,000 after purchasing an additional 2,111 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Amplitude by 13.5% during the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock valued at $174,000 after purchasing an additional 2,324 shares during the last quarter. 73.20% of the stock is currently 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.