Amplitude (NASDAQ:AMPL) Given New $22.00 Price Target at UBS Group

Amplitude (NASDAQ:AMPL) had its target price raised by UBS Group from $13.00 to $22.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group‘s target price points to a potential upside of 36.65% from the company’s current price.

AMPL has been the subject of several other reports. Piper Sandler increased their price objective on Amplitude from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC boosted their target price on shares of Amplitude from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp upped their target price on shares of Amplitude from $14.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. 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 lifted their price target on shares of Amplitude from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Amplitude Stock Performance

Shares of AMPL stock traded down $1.09 during trading hours on Thursday, hitting $16.10. The company had a trading volume of 3,196,278 shares, compared to its average volume of 2,129,371. Amplitude has a 12 month low of $5.51 and a 12 month high of $18.85. The firm’s fifty day moving average is $14.70 and its 200 day moving average is $9.73. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -21.47 and a beta of 1.30.

Amplitude (NASDAQ:AMPL) last posted its earnings results on Wednesday, November 4th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The business 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 42.62% and a negative net margin of 26.59%. On average, sell-side analysts expect that Amplitude will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

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 value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Spenser Skates sold 6,651 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $17.53, for a total value of $116,592.03. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 674,087 shares of company stock valued at $9,260,009 over the last ninety days. Insiders own 21.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Amplitude by 368.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 617,713 shares of the company’s stock worth $4,213,000 after buying an additional 485,752 shares in the last quarter. First Trust Advisors LP increased its position in Amplitude by 362.8% in the 1st quarter. First Trust Advisors LP now owns 424,566 shares of the company’s stock valued at $2,896,000 after acquiring an additional 332,830 shares in the last quarter. Squarepoint Ops LLC increased its position in Amplitude by 43.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,021,647 shares of the company’s stock valued at $7,816,000 after acquiring an additional 309,252 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Amplitude in the second quarter worth about $2,204,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Amplitude in the third quarter worth about $1,011,000. 73.20% of the stock is owned by institutional investors.

Amplitude News Roundup

Here are the key news stories impacting Amplitude this week:

• Positive Sentiment: Amplitude earned $0.04 per share, above the $0.03 consensus estimate, while revenue of about $110.6 million exceeded expectations of $107.0 million. Reports also highlighted stronger full-year guidance, revenue growth, and improved margins. Quarterly results
• Positive Sentiment: Analysts raised targets following the results: UBS, KeyCorp, and Piper Sandler set targets at $22; Needham raised its target to $21; and BTIG raised its target to $19. The firms maintained Buy or Overweight ratings. UBS price target Analyst forecasts
• Neutral Sentiment: Coverage points to enterprise AI adoption and new products as contributors to revenue growth, potentially supporting the company’s growth outlook. Q3 business deep dive
• Negative Sentiment: AMPL traded lower despite the earnings beat and analyst target increases. The article about the decline does not provide details in the supplied information, so its specific catalyst is unclear. Why Amplitude stock is trading lower

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.