Amplitude (NASDAQ:AMPL) Trading 5.2% Higher – Here’s What Happened

by · The Cerbat Gem

Amplitude, Inc. (NASDAQ:AMPL – Get Free Report)’s stock price rose 5.2% on Wednesday . The stock traded as high as $11.84 and last traded at $11.5950. Approximately 376,164 shares were traded during trading, a decline of 71% from the average daily volume of 1,286,363 shares. The stock had previously closed at $11.02.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BTIG Research began coverage on Amplitude in a research report on Tuesday. They set a “buy” rating and a $14.00 price objective for the company. Robert W. Baird reduced their price target on shares of Amplitude from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. DA Davidson reaffirmed a “buy” rating and set a $16.00 price objective on shares of Amplitude in a research report on Monday, September 29th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective on shares of Amplitude in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Amplitude in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amplitude has a consensus rating of “Moderate Buy” and a consensus target price of $14.30.

Read Our Latest Report on AMPL

Amplitude Stock Up 5.7%

The company has a market cap of $1.56 billion, a price-to-earnings ratio of -14.56 and a beta of 1.51. The business has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $11.31.

Amplitude (NASDAQ:AMPL – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The business had revenue of $88.56 million for the quarter, compared to the consensus estimate of $86.29 million. During the same period last year, the business earned $0.03 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts anticipate that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at Amplitude

In other Amplitude news, CEO Spenser Skates sold 400,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $10.99, for a total transaction of $4,396,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Casey purchased 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the completion of the transaction, the chief financial officer owned 1,160,608 shares of the company’s stock, valued at $11,594,473.92. The trade was a 2.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 420,000 shares of company stock worth $4,599,500. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Large investors have recently made changes to their positions in the business. Penn Capital Management Company LLC acquired a new stake in Amplitude in the 3rd quarter valued at approximately $263,000. Woodline Partners LP bought a new stake in shares of Amplitude in the third quarter valued at approximately $407,000. PharVision Advisers LLC bought a new stake in shares of Amplitude in the third quarter valued at approximately $174,000. Dark Forest Capital Management LP grew its stake in shares of Amplitude by 45.5% in the third quarter. Dark Forest Capital Management LP now owns 424,400 shares of the company’s stock worth $4,550,000 after acquiring an additional 132,660 shares during the last quarter. Finally, Quarry LP bought a new position in Amplitude during the third quarter worth $32,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

About Amplitude

(Get Free Report)

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.

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