Amplitude (NASDAQ:AMPL) Stock Price Up 8.4% – Should You Buy?

Shares of Amplitude, Inc. (NASDAQ:AMPL) were up 8.4% during trading on Wednesday . The stock traded as high as $6.93 and last traded at $6.8750. Approximately 997,535 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,787,762 shares. The stock had previously closed at $6.34.

Wall Street Analyst Weigh In

AMPL has been the subject of a number of analyst reports. UBS Group raised Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, October 31st. Robert W. Baird boosted 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Morgan Stanley set a $16.00 price objective on Amplitude and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Finally, BTIG Research assumed coverage on Amplitude in a research note on Tuesday, December 16th. They issued a “buy” rating and a $14.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.40.

Amplitude Stock Up 13.5%

The firm has a fifty day moving average of $10.02 and a 200-day moving average of $10.51. The firm has a market cap of $961.77 million, a P/E ratio of -8.99 and a beta of 1.48.

Insider Buying and Selling

In other news, CEO Spenser Skates sold 42,743 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $12.01, for a total value of $513,343.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erica Schultz sold 10,000 shares of Amplitude stock in a transaction on Monday, December 15th. The stock was sold at an average price of $10.88, for a total value of $108,800.00. Following the sale, the director directly owned 114,906 shares of the company’s stock, valued at approximately $1,250,177.28. This trade represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 52,843 shares of company stock valued at $623,343. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Amplitude during the 3rd quarter worth about $32,000. State of Alaska Department of Revenue acquired a new position in Amplitude during the third quarter valued at approximately $48,000. Osaic Holdings Inc. increased its stake in Amplitude by 57.8% in the second quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock valued at $64,000 after purchasing an additional 1,879 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Amplitude in the fourth quarter worth $116,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Amplitude during the fourth quarter worth $119,000. Institutional investors own 73.20% of the company’s stock.

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.