Amplitude (NASDAQ:AMPL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Amplitude (NASDAQ:AMPL) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also issued reports on AMPL. Needham & Company LLC upped their target price on shares of Amplitude from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. DA Davidson raised their price target on shares of Amplitude from $10.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, August 6th. BTIG Research raised their price target on shares of Amplitude from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded shares of Amplitude from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley upped their price objective on shares of Amplitude from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amplitude currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.64.

Amplitude Stock Performance

Shares of AMPL opened at $17.32 on Friday. Amplitude has a one year low of $5.51 and a one year high of $18.85. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -22.79 and a beta of 1.30. The stock has a 50 day moving average price of $14.87 and a 200 day moving average price of $9.83.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $110.64 million during the quarter, compared to the consensus estimate of $107.02 million. Amplitude had a negative return on equity of 45.71% and a negative net margin of 25.24%. On average, analysts predict that Amplitude will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In other Amplitude news, insider Nathaniel Glenn Crook sold 300,000 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $12.99, for a total transaction of $3,897,000.00. Following the transaction, the insider owned 1,622,696 shares of the company’s stock, valued at approximately $21,078,821.04. The trade was a 15.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Spenser Skates sold 185,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $12.30, for a total value of $2,275,500.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 675,049 shares of company stock worth $9,276,846. 21.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP increased its position in Amplitude by 15.3% during the third quarter. Royce & Associates LP now owns 1,211,654 shares of the company’s stock worth $16,781,000 after purchasing an additional 160,678 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Amplitude by 55.8% during the third quarter. Russell Investments Group Ltd. now owns 178,303 shares of the company’s stock worth $2,459,000 after purchasing an additional 63,843 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Amplitude by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,249 shares of the company’s stock valued at $661,000 after purchasing an additional 1,816 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amplitude in the 3rd quarter valued at about $337,000. Finally, Vise Technologies Inc. boosted its holdings in Amplitude by 6.4% in the 3rd quarter. Vise Technologies Inc. now owns 14,040 shares of the company’s stock valued at $194,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

Amplitude, Inc is a software company that provides digital analytics and product experience solutions. Its platform helps organizations collect, analyze and act on user behavior data across websites, mobile applications and other digital products.

The company’s offerings include Amplitude Analytics, which enables teams to measure user engagement, retention and conversion; experimentation tools for testing product changes; session replay capabilities for reviewing user interactions; and data management and governance features.