Amplitude, Inc. (NASDAQ:AMPL) Sees Large Decrease in Short Interest

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,660,000 shares, a decline of 14.2% from the September 15th total of 3,100,000 shares. Currently, 3.7% of the company's stock are short sold. Based on an average daily trading volume, of 523,400 shares, the short-interest ratio is currently 5.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMPL shares. UBS Group decreased their price objective on Amplitude from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. Piper Sandler lowered their price objective 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. Finally, Robert W. Baird dropped their price objective on shares of Amplitude from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note 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 company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in 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 during the last quarter. Janus Henderson Group PLC boosted its stake in Amplitude by 3,607.6% during the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company's stock valued at $9,353,000 after purchasing an additional 836,535 shares during the period. Renaissance Technologies LLC boosted its stake in Amplitude by 19.5% during the 2nd quarter. Renaissance Technologies LLC now owns 413,100 shares of the company's stock valued at $3,677,000 after purchasing an additional 67,500 shares during the period. TD Asset Management Inc grew its holdings in Amplitude by 24.2% in the 2nd quarter. TD Asset Management Inc now owns 224,818 shares of the company's stock valued at $2,001,000 after buying an additional 43,780 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Amplitude by 918.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company's stock worth $2,111,000 after buying an additional 174,967 shares during the period. 73.20% of the stock is owned by institutional investors.

Amplitude Price Performance

NASDAQ:AMPL traded up $0.11 during mid-day trading on Monday, reaching $8.64. The stock had a trading volume of 269,491 shares, compared to its average volume of 528,573. The stock has a market cap of $1.07 billion, a P/E ratio of -12.71 and a beta of 1.33. The business's 50 day moving average is $8.64 and its 200 day moving average is $8.94. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42.

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

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.