Amplitude (NASDAQ:AMPL) Shares Gap Down – Here’s Why

Amplitude, Inc. (NASDAQ:AMPL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $12.16, but opened at $11.75. Amplitude shares last traded at $11.61, with a volume of 80,612 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMPL shares. UBS Group increased their price objective on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. 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. Citigroup raised their price objective on Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Morgan Stanley increased their target price on Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Baird R W upgraded Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Amplitude Trading Up 1.3 %

The company has a market cap of $1.53 billion, a price-to-earnings ratio of -15.31 and a beta of 1.35. The firm’s fifty day moving average price is $11.98 and its 200-day moving average price is $10.56.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. The firm had revenue of $78.13 million during the quarter, compared to the consensus estimate of $76.68 million. As a group, research analysts anticipate that Amplitude, Inc. will post -0.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 3,563 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $12.00, for a total transaction of $42,756.00. Following the completion of the transaction, the director now owns 276,208 shares of the company’s stock, valued at approximately $3,314,496. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of Amplitude during the third quarter valued at about $128,000. Charles Schwab Investment Management Inc. increased its holdings in Amplitude by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,605 shares of the company’s stock worth $5,845,000 after acquiring an additional 20,657 shares during the period. Cerity Partners LLC increased its holdings in Amplitude by 524.9% during the 3rd quarter. Cerity Partners LLC now owns 460,624 shares of the company’s stock worth $4,132,000 after acquiring an additional 386,915 shares during the period. Algert Global LLC bought a new stake in Amplitude during the 3rd quarter worth approximately $708,000. Finally, FMR LLC increased its holdings in shares of Amplitude by 0.8% in the 3rd quarter. FMR LLC now owns 8,056,003 shares of the company’s stock worth $72,262,000 after buying an additional 64,574 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.

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.