Amplitude (NASDAQ:AMPL) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Amplitude (NASDAQ:AMPL) from a neutral rating to an outperform rating in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $17.00 price target on the stock, up from their prior price target of $12.00.

Other equities research analysts also recently issued research reports about the company. 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. DA Davidson raised shares of Amplitude to a “hold” rating in a report on Monday, February 10th. Scotiabank increased their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Finally, Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $15.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Amplitude Stock Performance

Shares of AMPL opened at $14.44 on Thursday. The firm has a market cap of $1.37 billion, a P/E ratio of -21.55 and a beta of 1.37. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88. The firm’s 50-day simple moving average is $11.46 and its 200 day simple moving average is $10.03.

Amplitude (NASDAQ:AMPL) last posted its 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 firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. As a group, equities analysts forecast that Amplitude will post -0.67 earnings per share for the current year.

Insider Activity at Amplitude

In other Amplitude news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total value of $42,756.00. Following the sale, the director now owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently modified their holdings of AMPL. Occudo Quantitative Strategies LP boosted its stake in Amplitude by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after buying an additional 832 shares in the last quarter. Rhumbline Advisers raised its stake in 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 fourth 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. 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.