Morgan Stanley Forecasts Strong Price Appreciation for Amplitude (NASDAQ:AMPL) Stock

Amplitude (NASDAQ:AMPL) had its target price increased by Morgan Stanley from $11.00 to $13.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. Bank of America upped their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler increased their price objective on shares of Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank raised their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $17.00 in a research note on Thursday. Finally, KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Amplitude Stock Up 21.9 %

Shares of AMPL stock opened at $14.44 on Thursday. The firm has a 50 day moving average of $11.46 and a two-hundred day moving average of $10.03. The stock has a market capitalization of $1.37 billion, a PE ratio of -21.55 and a beta of 1.37. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 27.44% and a negative return on equity of 27.40%. The company had revenue of $78.13 million during the quarter, compared to analysts’ expectations of $76.68 million. Analysts expect that Amplitude will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now owns 276,208 shares in the company, valued at $3,314,496. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPL. Headlands Technologies LLC purchased a new position in shares of Amplitude during the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC boosted its stake in Amplitude by 176.5% during the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board grew its position in Amplitude by 255.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Finally, Meros Investment Management LP purchased a new stake in shares of Amplitude in the fourth quarter valued at about $102,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Company Profile

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.