Bank of America Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL) had its price target lifted by stock analysts at Bank of America from $14.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 19.44% from the stock’s current price.

AMPL has been the topic of several other reports. UBS Group increased their price objective on Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler increased their price objective on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $11.00 in a research report on Monday, January 13th. Scotiabank raised their target price on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

Amplitude Price Performance

Amplitude stock opened at $13.40 on Thursday. Amplitude has a one year low of $7.37 and a one year high of $14.88. The stock has a market capitalization of $1.27 billion, a PE ratio of -17.40 and a beta of 1.37. The business’s fifty day moving average is $11.49 and its 200 day moving average is $10.07.

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 net margin of 31.52% and a negative return on equity of 32.45%. The business had revenue of $78.13 million for the quarter, compared to analysts’ expectations of $76.68 million. As a group, sell-side analysts expect that Amplitude will post -0.61 EPS for the current fiscal year.

Insider Transactions at Amplitude

In other 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 value of $42,756.00. Following the transaction, the director now owns 276,208 shares of the company’s stock, valued at $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of Amplitude in the fourth quarter worth about $38,000. Aquatic Capital Management LLC raised its stake in shares of Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares during the period. Summit Investment Advisors Inc. raised its stake 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 buying an additional 1,492 shares during the period. Finally, Meros Investment Management LP bought a new position in shares of Amplitude in the fourth quarter worth about $102,000. Institutional investors 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.