Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Drops By 20.1%

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 3,100,000 shares, a drop of 20.1% from the August 31st total of 3,880,000 shares. Currently, 4.3% of the company's shares are sold short. Based on an average trading volume of 545,300 shares, the short-interest ratio is currently 5.7 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMPL shares. Piper Sandler cut their price target on shares of Amplitude from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Robert W. Baird cut their price target on shares of Amplitude from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Finally, UBS Group cut their price target on shares of Amplitude from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.33.

Amplitude Stock Performance

NASDAQ AMPL traded up $0.12 during trading hours on Friday, reaching $8.95. 447,250 shares of the company's stock were exchanged, compared to its average volume of 539,208. The company's 50-day moving average is $8.57 and its two-hundred day moving average is $9.16. Amplitude has a one year low of $7.37 and a one year high of $14.42. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -12.26 and a beta of 1.32.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.18). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The business had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.98 million. During the same period in the previous year, the company posted ($0.17) earnings per share. Amplitude's revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that Amplitude will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amplitude

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Amplitude by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company's stock worth $88,214,000 after acquiring an additional 264,477 shares in the last quarter. Sunriver Management LLC grew its stake in shares of Amplitude by 28.2% during the 4th quarter. Sunriver Management LLC now owns 2,242,883 shares of the company's stock worth $28,529,000 after acquiring an additional 493,046 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. grew its stake in shares of Amplitude by 14.3% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company's stock worth $19,272,000 after acquiring an additional 190,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Amplitude by 3,607.6% during the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company's stock worth $9,353,000 after acquiring an additional 836,535 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Amplitude by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 556,755 shares of the company's stock valued at $7,082,000 after buying an additional 24,899 shares in the last quarter. 73.20% of the stock is 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.