Amplitude (NASDAQ:AMPL) Shares Up 7.3% – Time to Buy?

Amplitude, Inc. (NASDAQ:AMPL)’s share price shot up 7.3% during mid-day trading on Tuesday . The company traded as high as $12.09 and last traded at $12.12. 199,219 shares changed hands during trading, a decline of 41% from the average session volume of 339,093 shares. The stock had previously closed at $11.30.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMPL. 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 report on Friday, December 13th. Scotiabank boosted their target price on shares of Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Piper Sandler upgraded shares of Amplitude from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $15.00 in a research note on Monday, January 6th. Robert W. Baird upped their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Amplitude from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $11.00 in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.43.

Amplitude Stock Performance

The stock has a market cap of $1.13 billion, a PE ratio of -17.76 and a beta of 1.34. The company’s 50-day moving average price is $10.98 and its 200 day moving average price is $9.59.

Insider Activity

In related news, Director Eric Vishria sold 6,437 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the sale, the director now directly owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 35,000 shares of company stock valued at $374,629 in the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Amplitude by 1.0% in the fourth quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock worth $1,076,000 after buying an additional 1,040 shares during the last quarter. Blue Trust Inc. lifted its position in Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after buying an additional 2,324 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Amplitude by 19.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company’s stock worth $199,000 after buying an additional 3,552 shares during the last quarter. Quantbot Technologies LP lifted its position in Amplitude by 21.5% in the third quarter. Quantbot Technologies LP now owns 24,390 shares of the company’s stock worth $219,000 after buying an additional 4,309 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Amplitude by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 39,934 shares of the company’s stock worth $355,000 after buying an additional 4,647 shares during the last quarter. 73.20% of the stock is currently 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.