Amplitude, Inc. (NASDAQ:AMPL) Short Interest Down 6.4% in October

Amplitude, Inc. (NASDAQ:AMPL) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,490,000 shares, a decline of 6.4% from the September 30th total of 2,660,000 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily volume of 453,100 shares, the short-interest ratio is presently 5.5 days.

Amplitude Stock Performance

Shares of AMPL stock opened at $9.30 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -13.68 and a beta of 1.33. The company has a 50 day moving average price of $8.83 and a 200 day moving average price of $8.83. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). The business had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. On average, research analysts forecast that Amplitude will post -0.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on AMPL. Piper Sandler dropped their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. UBS Group dropped their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird dropped their price target on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Horrell Capital Management Inc. acquired a new position in Amplitude during the 3rd quarter worth approximately $1,597,000. Allspring Global Investments Holdings LLC grew its holdings in Amplitude by 418.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 66,592 shares of the company’s stock worth $597,000 after acquiring an additional 53,741 shares in the last quarter. Blue Trust Inc. grew its holdings in Amplitude by 13.5% during the 3rd quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after acquiring an additional 2,324 shares in the last quarter. Creative Planning grew its holdings in Amplitude by 152.4% during the 3rd quarter. Creative Planning now owns 26,166 shares of the company’s stock worth $235,000 after acquiring an additional 15,800 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in Amplitude by 16.3% during the 3rd quarter. Inspire Investing LLC now owns 46,088 shares of the company’s stock worth $413,000 after acquiring an additional 6,464 shares in the last quarter. 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.