Amplitude (NASDAQ:AMPL) Shares Gap Down – Time to Sell?

Amplitude, Inc. (NASDAQ:AMPL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $12.16, but opened at $11.75. Amplitude shares last traded at $11.61, with a volume of 80,612 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMPL shares. UBS Group lifted their price objective on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $17.00 in a report on Thursday, February 20th. Morgan Stanley raised their price target on shares of Amplitude from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Friday, December 13th. Finally, Bank of America raised their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amplitude currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Amplitude Price Performance

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -15.34 and a beta of 1.35. The business has a fifty day moving average price of $11.93 and a 200 day moving average price of $10.54.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The company had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. Research analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the sale, the director now directly owns 286,859 shares in the company, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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 business. Headlands Technologies LLC bought a new stake in Amplitude during the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC boosted its stake in shares of 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 acquiring an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 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 acquiring an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Meros Investment Management LP acquired a new stake in shares of Amplitude during the fourth quarter worth $102,000. Institutional investors and hedge funds 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.