Amplitude (NASDAQ:AMPL) Shares Gap Down – Here’s Why

Amplitude, Inc. (NASDAQ:AMPL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.44, but opened at $14.05. Amplitude shares last traded at $13.58, with a volume of 602,068 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMPL. UBS Group upped their price target on Amplitude from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Thursday. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 13th. Morgan Stanley lifted their price objective on Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Piper Sandler boosted their price objective on Amplitude from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Amplitude Stock Performance

The firm has a 50-day simple moving average of $11.46 and a two-hundred day simple moving average of $10.03. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -17.38 and a beta of 1.37.

Amplitude (NASDAQ:AMPL) last released its earnings results on Wednesday, February 19th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative return on equity of 32.45% and a negative net margin of 31.52%. As a group, equities analysts forecast that Amplitude, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity

In related news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the sale, the director now directly owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Amplitude

Several hedge funds and other institutional investors have recently bought and sold shares of AMPL. Headlands Technologies LLC bought a new stake in Amplitude in the 4th quarter valued at about $38,000. Aquatic Capital Management LLC grew its holdings in Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after buying an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in 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 buying an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP bought a new stake in shares of Amplitude during the fourth quarter valued at about $102,000. 73.20% of the stock is owned by institutional investors.

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.