Scotiabank Increases Amplitude (NASDAQ:AMPL) Price Target to $12.00

Amplitude (NASDAQ:AMPL) had its price objective raised by Scotiabank from $10.00 to $12.00 in a report released on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 21.33% from the company’s current price.

Other research analysts have also issued reports about the company. Robert W. Baird reduced their target price on Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. UBS Group decreased their price objective on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler lifted their target price on shares of Amplitude from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Amplitude has an average rating of “Hold” and a consensus price target of $11.00.

Amplitude Stock Down 5.7 %

NASDAQ AMPL opened at $9.89 on Friday. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.42. The company has a 50 day moving average price of $8.93 and a 200 day moving average price of $8.83. The firm has a market cap of $1.22 billion, a PE ratio of -14.54 and a beta of 1.31.

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

Institutional Investors Weigh In On Amplitude

A number of institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Amplitude in the 1st quarter worth approximately $32,000. Quest Partners LLC acquired a new stake in shares of Amplitude in the second quarter worth $41,000. Russell Investments Group Ltd. acquired a new stake in shares of Amplitude in the first quarter worth $45,000. Principal Financial Group Inc. purchased a new position in shares of Amplitude during the second quarter worth $92,000. Finally, MQS Management LLC acquired a new position in Amplitude during the first quarter valued at $120,000. Institutional investors and hedge funds 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.