Amplitude (NASDAQ:AMPL) Price Target Raised to $11.00

Amplitude (NASDAQ:AMPL) had its target price upped by equities research analysts at Piper Sandler from $9.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 11.22% from the stock’s previous close.

A number of other equities analysts have also recently commented on AMPL. Robert W. Baird decreased their target price on Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. UBS Group reduced their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.00.

Amplitude Trading Down 5.7 %

AMPL opened at $9.89 on Friday. The company’s 50 day moving average is $8.93 and its 200 day moving average is $8.83. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -14.54 and a beta of 1.31. Amplitude has a 12-month low of $7.37 and a 12-month high of $14.42.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.18). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The business had revenue of $73.30 million during the quarter, compared to the consensus estimate of $71.98 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that Amplitude will post -0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in shares of Amplitude in the third quarter worth about $128,000. MQS Management LLC grew its holdings in Amplitude by 38.2% during the 3rd quarter. MQS Management LLC now owns 25,729 shares of the company’s stock valued at $231,000 after buying an additional 7,112 shares in the last quarter. Horrell Capital Management Inc. bought a new stake in shares of Amplitude during the third quarter valued at approximately $1,597,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Amplitude by 418.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 66,592 shares of the company’s stock worth $597,000 after buying an additional 53,741 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after buying an additional 2,324 shares in the last quarter. Hedge funds and other 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.