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

Shares of Amplitude, Inc. (NASDAQ:AMPL) gapped up prior to trading on Friday . The stock had previously closed at $11.39, but opened at $11.85. Amplitude shares last traded at $11.72, with a volume of 123,645 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Scotiabank boosted their price target on Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. KeyCorp upgraded Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday. Finally, Robert W. Baird boosted their target price on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Amplitude presently has a consensus rating of “Hold” and a consensus price target of $11.57.

Amplitude Price Performance

The company has a fifty day moving average price of $9.89 and a two-hundred day moving average price of $9.02. The company has a market capitalization of $1.11 billion, a P/E ratio of -17.55 and a beta of 1.38.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total value of $254,500.00. Following the transaction, the director now owns 286,208 shares in the company, valued at $2,913,597.44. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Trading of Amplitude

Large investors have recently modified their holdings of the stock. 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. Cerity Partners LLC grew its stake in Amplitude by 524.9% in the third quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock valued at $4,132,000 after acquiring an additional 386,915 shares during the period. Horrell Capital Management Inc. bought a new stake in shares of Amplitude during the third quarter valued at approximately $1,597,000. Circumference Group LLC acquired a new position in Amplitude during the third quarter worth $1,597,000. Finally, Geode Capital Management LLC increased its position in shares of Amplitude by 7.1% during the third quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company’s stock worth $17,078,000 after acquiring an additional 126,056 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.