Amplitude (NASDAQ:AMPL) Upgraded by Baird R W to Strong-Buy Rating

Amplitude (NASDAQ:AMPL) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on AMPL. Morgan Stanley raised their price objective on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday. 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. Piper Sandler upped their price target on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $12.00 to $17.00 in a research note on Thursday. Finally, Scotiabank increased their price objective on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Amplitude Stock Up 21.9 %

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

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share 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 company had revenue of $78.13 million for the quarter, compared to analyst estimates of $76.68 million. On average, research analysts forecast that Amplitude will post -0.67 EPS for the current year.

Insider Buying and Selling at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the completion of the sale, the director now directly owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Several hedge funds have recently made changes to their positions in AMPL. Headlands Technologies LLC bought a new stake in shares of Amplitude during the 4th quarter worth $38,000. Aquatic Capital Management LLC boosted its position in shares of Amplitude by 176.5% in the 4th 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. Canada Pension Plan Investment Board boosted its position in shares of Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Summit Investment Advisors Inc. increased its stake in 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 purchasing an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP acquired a new stake in Amplitude during the 4th quarter worth about $102,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.