Amplitude (NASDAQ:AMPL) Shares Gap Down - What's Next?

Shares of Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) gapped down prior to trading 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.

Analyst Ratings Changes

A number of brokerages have issued reports on AMPL. DA Davidson reissued a "buy" rating and set a $16.00 price objective on shares of Amplitude in a research report on Tuesday, March 11th. Robert W. Baird raised shares of Amplitude from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $12.00 to $17.00 in a research note on Thursday, February 20th. KeyCorp upgraded shares of Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price objective for the company in a report on Friday, December 13th. Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Amplitude in a report on Tuesday, March 11th. Finally, Bank of America raised their target price on Amplitude from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Amplitude Price Performance

The stock has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $10.61. The firm has a market cap of $1.51 billion, a PE ratio of -15.13 and a beta of 1.35.

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Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly 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). Amplitude had a negative return on equity of 32.24% and a negative net margin of 31.52%. The company had revenue of $78.13 million during the quarter, compared to analysts' expectations of $76.68 million. As a group, equities analysts predict that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Eric Vishria sold 35,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the transaction, the director now directly owns 286,859 shares in the company, valued at $3,671,795.20. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of Amplitude

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Amplitude by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 9,189,698 shares of the company's stock valued at $96,951,000 after buying an additional 447,277 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Amplitude by 9.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,996,229 shares of the company's stock valued at $94,911,000 after acquiring an additional 770,227 shares during the period. FMR LLC boosted its holdings in shares of Amplitude by 0.8% during the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company's stock valued at $72,262,000 after acquiring an additional 64,574 shares during the last quarter. Sunriver Management LLC grew its stake in shares of Amplitude by 24.3% in the fourth quarter. Sunriver Management LLC now owns 3,772,808 shares of the company's stock worth $39,803,000 after acquiring an additional 737,600 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Amplitude by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,955,564 shares of the company's stock valued at $20,636,000 after purchasing an additional 52,033 shares during the last quarter. 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.