Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Grows By 60.7%

Amplitude, Inc. (NASDAQ:AMPL) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 3,150,000 shares, a growth of 60.7% from the February 28th total of 1,960,000 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average trading volume of 770,700 shares, the days-to-cover ratio is presently 4.1 days.

Amplitude Price Performance

Shares of AMPL stock opened at $10.25 on Monday. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The firm’s 50-day simple moving average is $12.08 and its 200-day simple moving average is $10.70. The firm has a market cap of $1.33 billion, a P/E ratio of -13.15 and a beta of 1.35.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 31.52% and a negative return on equity of 32.24%. Analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMPL has been the topic of a number of research reports. Morgan Stanley raised their target price 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. Piper Sandler upped their target price on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. DA Davidson reiterated a “buy” rating and set a $16.00 price target on shares of Amplitude in a research report on Tuesday, March 11th. Citigroup raised their price objective on Amplitude from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Finally, Robert W. Baird upgraded Amplitude from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $17.00 in a research 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 MarketBeat, Amplitude currently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Buying and Selling

In related news, Director Eric Vishria sold 35,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the director now directly owns 286,859 shares of the company’s stock, valued at $3,671,795.20. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of large investors have recently modified their holdings of AMPL. Barclays PLC raised its stake in shares of Amplitude by 371.7% during the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after purchasing an additional 101,289 shares during the period. M&T Bank Corp lifted its holdings in Amplitude by 86.8% in the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after buying an additional 72,806 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Amplitude by 38.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after buying an additional 23,526 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Amplitude by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,405 shares of the company’s stock valued at $7,210,000 after acquiring an additional 31,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Amplitude during the fourth quarter worth about $252,000. 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.