Amplitude (NASDAQ:AMPL) Shares Up 7.3% - Should You Buy?

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) shares shot up 7.3% during mid-day trading on Tuesday . The stock traded as high as $12.09 and last traded at $12.12. 199,219 shares were traded during trading, a decline of 41% from the average session volume of 339,093 shares. The stock had previously closed at $11.30.

Wall Street Analysts Forecast Growth

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

Amplitude Price Performance

The company has a 50-day simple moving average of $11.01 and a 200-day simple moving average of $9.60. The firm has a market cap of $1.15 billion, a PE ratio of -18.20 and a beta of 1.34.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 3,563 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $12.00, for a total transaction of $42,756.00. Following the transaction, the director now owns 276,208 shares in the company, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 35,000 shares of company stock worth $374,629. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPL. FMR LLC boosted its stake in shares of Amplitude by 0.8% during the third quarter. FMR LLC now owns 8,056,003 shares of the company's stock valued at $72,262,000 after purchasing an additional 64,574 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amplitude by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company's stock valued at $17,078,000 after acquiring an additional 126,056 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in shares of Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company's stock worth $13,300,000 after purchasing an additional 535,624 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amplitude by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company's stock valued at $5,845,000 after purchasing an additional 20,657 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Amplitude by 524.9% in 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 during the last quarter. 73.20% of the stock is currently owned by institutional investors.

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.