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

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $10.21, but opened at $10.61. Amplitude shares last traded at $10.27, with a volume of 43,567 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on AMPL shares. Piper Sandler raised Amplitude from a "neutral" rating to an "overweight" rating and increased their price target for the company from $11.00 to $15.00 in a report on Monday, January 6th. Scotiabank raised their target price on Amplitude from $10.00 to $12.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. Robert W. Baird boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of Amplitude from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $10.00 to $11.00 in a research report on Monday. Finally, KeyCorp upgraded shares of Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a report on Friday, December 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $12.43.

Amplitude Price Performance

The firm has a market capitalization of $969.56 million, a price-to-earnings ratio of -15.30 and a beta of 1.34. The stock has a 50 day moving average price of $10.69 and a two-hundred day moving average price of $9.35.

Insider Transactions at Amplitude

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

Institutional Investors Weigh In On Amplitude

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Amplitude by 13.5% during the third quarter. Blue Trust Inc. now owns 19,518 shares of the company's stock worth $174,000 after buying an additional 2,324 shares during the period. Arizona State Retirement System raised its holdings in shares of Amplitude by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 21,037 shares of the company's stock valued at $187,000 after purchasing an additional 2,642 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Amplitude by 19.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,146 shares of the company's stock worth $199,000 after purchasing an additional 3,552 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Amplitude by 21.5% during the third quarter. Quantbot Technologies LP now owns 24,390 shares of the company's stock worth $219,000 after purchasing an additional 4,309 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Amplitude in the second quarter valued at $41,000. Institutional investors and hedge funds 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.