Amplitude (NASDAQ:AMPL) Shares Gap Down - Should You Sell?

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $12.16, but opened at $11.75. Amplitude shares last traded at $11.61, with a volume of 80,612 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMPL shares. KeyCorp upgraded Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a research note on Friday, December 13th. Piper Sandler increased their price target on Amplitude from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. DA Davidson restated a "buy" rating and issued a $16.00 target price on shares of Amplitude in a research note on Tuesday, March 11th. UBS Group raised their target price on Amplitude from $10.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Baird R W upgraded Amplitude from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Amplitude Trading Up 1.3 %

The firm has a fifty day simple moving average of $11.98 and a two-hundred day simple moving average of $10.56. The stock has a market cap of $1.53 billion, a PE ratio of -15.31 and a beta of 1.35.

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Amplitude (NASDAQ:AMPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The business had revenue of $78.13 million during the quarter, compared to analysts' expectations of $76.68 million. Equities analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the sale, the director now owns 286,859 shares of the company's stock, valued at $3,671,795.20. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.80% of the company's stock.

Institutional Trading of Amplitude

Several institutional investors and hedge funds have recently modified their holdings of AMPL. Barclays PLC raised its holdings in shares of Amplitude by 371.7% during the 3rd quarter. Barclays PLC now owns 128,537 shares of the company's stock valued at $1,153,000 after buying an additional 101,289 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Amplitude by 86.8% during the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company's stock valued at $1,405,000 after buying an additional 72,806 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company's stock valued at $754,000 after buying an additional 23,526 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Amplitude during the 3rd quarter valued at about $726,000. Finally, Kera Capital Partners Inc. purchased a new position in shares of Amplitude during the 4th quarter valued at about $1,498,000. Hedge funds and other institutional investors own 73.20% of the company's stock.

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.