Amplitude (NASDAQ:AMPL) Given New $21.00 Price Target at Needham & Company LLC

Amplitude (NASDAQ:AMPL) had its target price hoisted by stock analysts at Needham & Company LLC from $18.00 to $21.00 in a report issued on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC‘s target price would indicate a potential upside of 22.16% from the company’s previous close.

Other analysts also recently issued reports about the stock. Bank of America lifted their price target on shares of Amplitude from $14.00 to $16.50 and gave the company a “neutral” rating in a report on Wednesday, October 14th. UBS Group increased their price objective on shares of Amplitude from $8.50 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 6th. DA Davidson lifted their target price on Amplitude from $10.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Amplitude from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, BTIG Research increased their price target on Amplitude from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.45.

Amplitude Trading Up 2.1%

NASDAQ AMPL opened at $17.19 on Thursday. Amplitude has a 12 month low of $5.51 and a 12 month high of $17.84. The stock has a market cap of $1.74 billion, a PE ratio of -22.92 and a beta of 1.30. The stock’s 50 day moving average is $14.70 and its 200 day moving average is $9.73.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Amplitude had a negative net margin of 26.59% and a negative return on equity of 42.62%. The business had revenue of $110.64 million during the quarter, compared to analyst estimates of $107.02 million. On average, analysts forecast that Amplitude will post -0.66 EPS for the current fiscal year.

Insider Transactions at Amplitude

In other news, CEO Spenser Skates sold 6,651 shares of the business’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $17.53, for a total value of $116,592.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nathaniel Glenn Crook sold 300,000 shares of Amplitude stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $12.99, for a total value of $3,897,000.00. Following the completion of the transaction, the insider owned 1,622,696 shares of the company’s stock, valued at approximately $21,078,821.04. This represents a 15.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 674,087 shares of company stock worth $9,260,009. Insiders own 21.59% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Amplitude by 169.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,465 shares of the company’s stock valued at $34,000 after purchasing an additional 1,549 shares during the last quarter. Sterling Capital Management LLC lifted its position in Amplitude by 838.1% in the third quarter. Sterling Capital Management LLC now owns 3,180 shares of the company’s stock worth $44,000 after buying an additional 2,841 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Amplitude during the second quarter worth $48,000. Vise Technologies Inc. boosted its stake in Amplitude by 6.4% during the third quarter. Vise Technologies Inc. now owns 14,040 shares of the company’s stock worth $194,000 after buying an additional 843 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Amplitude during the third quarter worth $337,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Company Profile

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.