Amplitude, Inc. (NASDAQ:AMPL) Sees Large Growth in Short Interest

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,960,000 shares, a growth of 17.4% from the February 13th total of 1,670,000 shares. Based on an average daily volume of 661,300 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.5% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMPL shares. Piper Sandler boosted their target price on Amplitude from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. UBS Group boosted their price target on Amplitude from $10.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. KeyCorp raised shares of Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price objective for the company in a research report on Friday, December 13th. Bank of America lifted their target price on shares of Amplitude from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup upped their price target on shares of Amplitude from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.00.

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Insider Buying and Selling

In other Amplitude news, Director Eric Vishria sold 3,563 shares of Amplitude stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total value of $42,756.00. Following the transaction, the director now directly owns 276,208 shares of the company's stock, valued at approximately $3,314,496. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amplitude

A number of institutional investors have recently modified their holdings of AMPL. Headlands Technologies LLC purchased a new stake in Amplitude during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC increased its position in shares of Amplitude by 176.5% during the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company's stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Amplitude by 255.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company's stock valued at $75,000 after purchasing an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Amplitude by 22.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company's stock valued at $86,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP acquired a new stake in Amplitude during the 4th quarter worth $102,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Amplitude Price Performance

NASDAQ:AMPL traded up $0.15 during trading hours on Thursday, reaching $11.79. The company had a trading volume of 1,254,626 shares, compared to its average volume of 536,233. Amplitude has a 1-year low of $7.37 and a 1-year high of $14.88. The business's 50 day moving average price is $11.98 and its 200-day moving average price is $10.56. The firm has a market cap of $1.53 billion, a PE ratio of -15.31 and a beta of 1.35.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $78.13 million during the quarter, compared to analyst estimates of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. On average, analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

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.