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

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $10.89, but opened at $11.76. Amplitude shares last traded at $11.55, with a volume of 79,952 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on AMPL shares. Scotiabank boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. KeyCorp upgraded Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a report on Friday, December 13th. Piper Sandler raised Amplitude from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $11.00 to $15.00 in a report on Monday. Finally, Robert W. Baird raised their target price on shares of Amplitude from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.14.

Amplitude Stock Performance

The firm's fifty day moving average is $10.54 and its 200 day moving average is $9.27. The company has a market capitalization of $1.09 billion, a P/E ratio of -17.18 and a beta of 1.34.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the sale, the director now directly owns 279,771 shares of the company's stock, valued at $3,362,847.42. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Amplitude

Several institutional investors have recently bought and sold shares of AMPL. ArrowMark Colorado Holdings LLC boosted its position in Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company's stock valued at $13,300,000 after acquiring an additional 535,624 shares in the last quarter. Cerity Partners LLC boosted its position in Amplitude by 524.9% during the third quarter. Cerity Partners LLC now owns 460,624 shares of the company's stock valued at $4,132,000 after purchasing an additional 386,915 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in Amplitude in the third quarter valued at about $1,597,000. Circumference Group LLC bought a new position in Amplitude in the third quarter worth about $1,597,000. Finally, Geode Capital Management LLC lifted 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 valued at $17,078,000 after buying an additional 126,056 shares during the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.