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

Amplitude (NASDAQ:AMPL) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $15.00 price target on the stock, up from their previous price target of $11.00. Piper Sandler’s price target would suggest a potential upside of 41.51% from the company’s current price.

A number of other research firms have also issued reports on AMPL. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Friday, December 13th. Robert W. Baird raised their target price 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 upped their price target 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.14.

Amplitude Stock Performance

Shares of AMPL opened at $10.60 on Monday. The stock has a 50 day moving average price of $10.61 and a 200 day moving average price of $9.31. Amplitude has a one year low of $7.37 and a one year high of $14.42. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -15.82 and a beta of 1.34.

Insider Activity

In other news, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total value of $254,500.00. Following the sale, the director now directly owns 286,208 shares of the company’s stock, valued at approximately $2,913,597.44. The trade was a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Amplitude by 38.9% during the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after purchasing an additional 23,526 shares in the last quarter. Barclays PLC raised its holdings in shares of Amplitude by 371.7% in the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after buying an additional 101,289 shares during the period. Geode Capital Management LLC lifted its stake in Amplitude by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock worth $17,078,000 after acquiring an additional 126,056 shares in the last quarter. M&T Bank Corp boosted its holdings in Amplitude by 86.8% during the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after acquiring an additional 72,806 shares during the period. Finally, Circumference Group LLC acquired a new position in Amplitude in the 3rd quarter valued at about $1,597,000. 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.