Amplitude (NASDAQ:AMPL) Trading 7.3% Higher – Should You Buy?

Amplitude, Inc. (NASDAQ:AMPL) rose 7.3% during mid-day trading on Tuesday . The stock traded as high as $12.09 and last traded at $12.12. Approximately 199,219 shares traded hands during trading, a decline of 41% from the average daily volume of 339,093 shares. The stock had previously closed at $11.30.

Wall Street Analysts Forecast Growth

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

Amplitude Trading Up 10.7 %

The firm has a market capitalization of $1.18 billion, a P/E ratio of -18.67 and a beta of 1.34. The business’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $9.54.

Insider Activity at Amplitude

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

Hedge Funds Weigh In On Amplitude

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake 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 during the period. Barclays PLC boosted its holdings in Amplitude by 371.7% in the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock worth $1,153,000 after purchasing an additional 101,289 shares during the last quarter. M&T Bank Corp grew its position in Amplitude by 86.8% in the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock worth $1,405,000 after purchasing an additional 72,806 shares during the period. JPMorgan Chase & Co. raised its stake in Amplitude by 38.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock valued at $754,000 after buying an additional 23,526 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Amplitude during the 3rd quarter valued at $726,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.