Amplitude (NASDAQ:AMPL) Shares Gap Up – Time to Buy?

Amplitude, Inc. (NASDAQ:AMPL) gapped up prior to trading on Monday . The stock had previously closed at $10.21, but opened at $10.61. Amplitude shares last traded at $10.27, with a volume of 43,567 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler upgraded Amplitude from a “neutral” rating to an “overweight” rating and increased their target price for the company from $11.00 to $15.00 in a report on Monday, January 6th. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 13th. Scotiabank lifted their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley raised shares of Amplitude from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a report on Monday. Finally, Robert W. Baird upped their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.43.

Amplitude Trading Up 1.1 %

The stock has a market cap of $976.18 million, a PE ratio of -15.40 and a beta of 1.34. The business has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $9.35.

Insider Activity at Amplitude

In related news, Director Eric Vishria sold 6,437 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now directly owns 279,771 shares of the company’s stock, valued at approximately $3,362,847.42. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMPL. Quest Partners LLC purchased a new position in Amplitude in the 2nd quarter worth approximately $41,000. Principal Financial Group Inc. purchased a new position in shares of Amplitude during the second quarter valued at approximately $92,000. Intech Investment Management LLC bought a new position in Amplitude during the third quarter valued at approximately $128,000. XTX Topco Ltd purchased a new stake in Amplitude in the second quarter worth approximately $133,000. Finally, MQS Management LLC grew its position in Amplitude by 69.4% in the 2nd quarter. MQS Management LLC now owns 18,617 shares of the company’s stock worth $166,000 after purchasing an additional 7,625 shares during the period. Institutional investors own 73.20% of the company’s stock.

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.