Amplitude (NASDAQ:AMPL) Raised to Overweight at Piper Sandler

Amplitude (NASDAQ:AMPL) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday,Finviz reports. The brokerage presently has a $15.00 target price on the stock, up from their prior target price of $11.00. Piper Sandler’s price target indicates a potential upside of 37.74% from the company’s current price.

AMPL has been the subject of several other research reports. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Friday, December 13th. Robert W. Baird increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Scotiabank lifted their target price on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.14.

Amplitude Stock Performance

Shares of AMPL stock opened at $10.89 on Monday. The company has a market capitalization of $1.03 billion, a P/E ratio of -16.25 and a beta of 1.38. The stock has a 50 day moving average price of $10.54 and a two-hundred day moving average price of $9.27. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42.

Insider Activity

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.02, for a total transaction of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares in the company, valued at $3,362,847.42. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors have recently modified their holdings of AMPL. Principal Financial Group Inc. purchased a new position in Amplitude during the 2nd quarter valued at about $92,000. Rhumbline Advisers lifted its stake in Amplitude by 14.5% in the 2nd quarter. Rhumbline Advisers now owns 103,237 shares of the company’s stock valued at $919,000 after buying an additional 13,099 shares in the last quarter. TD Asset Management Inc grew its holdings in Amplitude by 24.2% during the 2nd quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock valued at $2,001,000 after buying an additional 43,780 shares during the last quarter. Arizona State Retirement System increased its position in Amplitude by 14.4% during the second quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after buying an additional 2,642 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Amplitude in the second quarter worth $41,000. 73.20% of the stock is owned by institutional investors and hedge funds.

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.