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

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.39, but opened at $11.85. Amplitude shares last traded at $11.72, with a volume of 123,645 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMPL. Piper Sandler upped their price target on Amplitude from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Robert W. Baird increased their target price on Amplitude from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. KeyCorp raised shares of 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. Finally, Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.57.

Amplitude Stock Performance

The company has a 50 day moving average of $9.89 and a 200 day moving average of $9.02. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.55 and a beta of 1.38.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.18, for a total value of $254,500.00. Following the completion of the sale, the director now owns 286,208 shares of the company's stock, valued at approximately $2,913,597.44. This trade represents a 8.03 % 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 this link. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Amplitude during the 2nd quarter worth $41,000. Principal Financial Group Inc. purchased a new position in Amplitude during the second quarter worth about $92,000. Intech Investment Management LLC acquired a new position in Amplitude in the 3rd quarter valued at about $128,000. XTX Topco Ltd acquired a new position in Amplitude in the 2nd quarter valued at about $133,000. Finally, MQS Management LLC grew its stake in shares of Amplitude by 69.4% in the 2nd quarter. MQS Management LLC now owns 18,617 shares of the company's stock valued at $166,000 after buying an additional 7,625 shares during the period. Institutional investors and hedge funds own 73.20% of the company's stock.

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.