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

Amplitude, Inc. (NASDAQ:AMPL) gapped up prior to trading on Monday . The stock had previously closed at $10.89, but opened at $11.76. Amplitude shares last traded at $11.55, with a volume of 79,952 shares changing hands.

Wall Street Analyst Weigh In

AMPL has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Friday, December 13th. Robert W. Baird raised their target price on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler upgraded Amplitude from a “neutral” rating to an “overweight” rating and upped their price target for the company from $11.00 to $15.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.14.

Amplitude Stock Down 7.9 %

The firm has a market cap of $1.00 billion, a P/E ratio of -15.82 and a beta of 1.34. The business’s 50 day moving average is $10.61 and its two-hundred day moving average is $9.31.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the transaction, the director now directly owns 279,771 shares in the company, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMPL. FMR LLC increased its stake in Amplitude by 0.8% in the third quarter. FMR LLC now owns 8,056,003 shares of the company’s stock valued at $72,262,000 after purchasing an additional 64,574 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amplitude by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock valued at $17,078,000 after buying an additional 126,056 shares during the period. ArrowMark Colorado Holdings LLC increased its position in Amplitude by 56.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company’s stock valued at $13,300,000 after buying an additional 535,624 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amplitude by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company’s stock worth $5,845,000 after buying an additional 20,657 shares during the period. Finally, Cerity Partners LLC raised its stake in Amplitude by 524.9% during the 3rd quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock worth $4,132,000 after buying an additional 386,915 shares during the period. Institutional investors and hedge funds own 73.20% of the company’s stock.

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.