Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Decreases By 6.4%

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 2,490,000 shares, a decline of 6.4% from the September 30th total of 2,660,000 shares. Based on an average trading volume of 453,100 shares, the short-interest ratio is currently 5.5 days. Approximately 3.5% of the company's stock are sold short.

Analysts Set New Price Targets

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

Amplitude Trading Down 1.2 %

Shares of NASDAQ AMPL traded down $0.11 during trading hours on Thursday, reaching $9.10. The stock had a trading volume of 136,005 shares, compared to its average volume of 516,124. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $8.83. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -13.54 and a beta of 1.33. 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). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The firm had revenue of $73.30 million for the quarter, compared to analysts' expectations of $71.98 million. During the same period last year, the firm earned ($0.17) EPS. Amplitude's revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Amplitude will post -0.65 EPS for the current year.

Institutional Trading of Amplitude

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Amplitude by 3,607.6% during the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company's stock worth $9,353,000 after purchasing an additional 836,535 shares during the period. Vanguard Group Inc. increased 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 purchasing an additional 264,477 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in Amplitude in the third quarter valued at approximately $1,597,000. Jacobs Levy Equity Management Inc. lifted its position in Amplitude by 918.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company's stock valued at $2,111,000 after buying an additional 174,967 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Amplitude by 19.5% in the second quarter. Renaissance Technologies LLC now owns 413,100 shares of the company's stock worth $3,677,000 after acquiring an additional 67,500 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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.