Amplitude (NASDAQ:AMPL) Shares Gap Up – Still a Buy?

Amplitude, Inc. (NASDAQ:AMPL) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.23, but opened at $10.85. Amplitude shares last traded at $10.5510, with a volume of 151,834 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMPL. DA Davidson reissued a “buy” rating and set a $16.00 target price on shares of Amplitude in a report on Monday, September 29th. Morgan Stanley set a $16.00 price target on Amplitude and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Robert W. Baird boosted their price objective on Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 target price on shares of Amplitude in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

Amplitude Stock Performance

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -13.06 and a beta of 1.49. The business has a 50-day moving average of $10.92 and a 200-day moving average of $11.20.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative net margin of 31.36% and a negative return on equity of 36.27%. The firm had revenue of $88.56 million during the quarter, compared to analysts’ expectations of $86.29 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Amplitude

In other news, Director Erica Schultz sold 10,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.88, for a total value of $108,800.00. Following the completion of the sale, the director owned 114,906 shares in the company, valued at approximately $1,250,177.28. This trade represents a 8.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Casey bought 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the acquisition, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. This represents a 2.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 462,843 shares of company stock worth $5,121,643. Corporate insiders own 23.83% of the company’s stock.

Institutional Investors Weigh In On Amplitude

A number of large investors have recently added to or reduced their stakes in AMPL. AQR Capital Management LLC increased its position in Amplitude by 120.7% during the first quarter. AQR Capital Management LLC now owns 226,486 shares of the company’s stock worth $2,308,000 after buying an additional 123,886 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amplitude by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company’s stock worth $473,000 after purchasing an additional 2,038 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Amplitude during the 1st quarter worth about $580,000. Jones Financial Companies Lllp raised its stake in Amplitude by 93,569.0% in the 1st quarter. Jones Financial Companies Lllp now owns 93,669 shares of the company’s stock valued at $954,000 after purchasing an additional 93,569 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Amplitude by 60.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 473,491 shares of the company’s stock valued at $4,825,000 after purchasing an additional 177,599 shares in the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

About Amplitude

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.