Amplitude (NASDAQ:AMPL) Given New $15.00 Price Target at Piper Sandler
Piper Sandler has raised its price target for Amplitude (NASDAQ:AMPL) from $14.00 to $15.00, maintaining an "overweight" rating. This suggests a potential upside of 59.24% from the current price. Other analysts have also increased their targets, with Bank of America setting it at $16.00 and Needham & Company LLC at $16.00 as well. Amplitude's stock opened at $9.42, with a 52-week range of $7.37 to $14.88. The company reported a quarterly revenue of $79.95 million, up 10.1% year-over-year, but missed EPS estimates.
Amplitude (NASDAQ:AMPL - Get Free Report) had its target price upped by equities research analysts at Piper Sandler from $14.00 to $15.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 59.24% from the company's current price.
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Several other equities analysts have also weighed in on AMPL. Bank of America increased their price objective on shares of Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Amplitude in a report on Wednesday, April 23rd. Robert W. Baird raised shares of Amplitude from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $12.00 to $17.00 in a report on Thursday, February 20th. Morgan Stanley reduced their target price on Amplitude from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup lifted their price objective on shares of Amplitude from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amplitude currently has an average rating of "Moderate Buy" and an average price target of $14.00.
Check Out Our Latest Report on Amplitude
Amplitude Stock Performance
Shares of AMPL stock opened at $9.42 on Thursday. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.88. The stock has a market cap of $930.39 million, a price-to-earnings ratio of -12.23 and a beta of 1.40. The firm's 50-day moving average is $10.15 and its 200-day moving average is $10.71.
Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $79.95 million during the quarter, compared to the consensus estimate of $79.81 million. During the same quarter in the prior year, the company earned $0.01 EPS. Amplitude's quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.
Insider Activity
In other news, Director Eric Vishria sold 35,000 shares of Amplitude stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Amplitude
A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. acquired a new stake in Amplitude during the 1st quarter valued at approximately $20,292,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Amplitude by 9.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after purchasing an additional 770,227 shares during the last quarter. Sunriver Management LLC raised its stake in Amplitude by 24.3% during the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock worth $39,803,000 after buying an additional 737,600 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Amplitude by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after buying an additional 447,277 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Amplitude in the fourth quarter valued at $4,320,000. 73.20% of the stock is currently owned by institutional investors.
Amplitude Company Profile
(Get Free Report)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.
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