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KeyBanc Thinks Amplitude’s Stock is Going to Recover

In a report released today, Michael Turits from KeyBanc maintained a Buy rating on Amplitude (AMPLResearch Report), with a price target of $21.00. The company’s shares closed last Thursday at $16.91, close to its 52-week low of $13.42.

According to TipRanks.com, Turits is a top 100 analyst with an average return of 17.8% and a 66.8% success rate. Turits covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Ping Identity Holding, and Palo Alto Networks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amplitude with a $24.13 average price target, implying a 47.4% upside from current levels. In a report issued on July 20, Piper Sandler also maintained a Buy rating on the stock with a $21.00 price target.

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Based on Amplitude’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $53.07 million and GAAP net loss of $22.22 million. In comparison, last year the company earned revenue of $33.11 million and had a GAAP net loss of $6.44 million.

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMPL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Amplitude Inc is pioneering a new category of software called digital optimization. The company’s digital optimization system serves as the command center for businesses to connect digital products to business outcomes.

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