Amplitude (NASDAQ:AMPL) Shares Gap Up – Should You Buy?

Shares of Amplitude, Inc. (NASDAQ:AMPL) gapped up before the market opened on Thursday . The stock had previously closed at $10.23, but opened at $10.85. Amplitude shares last traded at $10.5510, with a volume of 151,834 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird increased their target price on Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Amplitude in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amplitude in a research note on Monday, December 29th. Morgan Stanley set a $16.00 price target on shares of Amplitude and gave the company an “overweight” rating in a research note on Thursday. Finally, UBS Group upgraded shares of Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Amplitude Price Performance

The business has a 50 day simple moving average of $10.92 and a 200-day simple moving average of $11.18. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -12.44 and a beta of 1.49.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The business had revenue of $88.56 million for the quarter, compared to analysts’ expectations of $86.29 million. During the same quarter in the previous year, the business posted $0.03 EPS. Amplitude’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities analysts predict that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Amplitude news, CEO Spenser Skates sold 400,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $10.99, for a total transaction of $4,396,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew Casey acquired 30,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $9.99 per share, with a total value of $299,700.00. Following the acquisition, the chief financial officer directly owned 1,160,608 shares in the company, valued at $11,594,473.92. This represents a 2.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 462,843 shares of company stock valued at $5,121,643. Company insiders own 23.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in Amplitude by 2,126.0% during the 2nd quarter. Alliancebernstein L.P. now owns 4,160,481 shares of the company’s stock valued at $51,590,000 after purchasing an additional 3,973,575 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Amplitude during the 3rd quarter worth about $21,922,000. Wellington Management Group LLP boosted its holdings in shares of Amplitude by 783.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,026,598 shares of the company’s stock worth $21,725,000 after buying an additional 1,797,228 shares during the period. Baillie Gifford & Co. grew its stake in Amplitude by 35.5% in the 3rd quarter. Baillie Gifford & Co. now owns 2,681,896 shares of the company’s stock valued at $28,750,000 after buying an additional 703,328 shares during the last quarter. Finally, Gagnon Securities LLC bought a new position in Amplitude in the 3rd quarter valued at about $5,475,000. 73.20% of the stock is currently owned by institutional investors.

About Amplitude

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.