Amplitude (NASDAQ:AMPL) Trading Down 6.6% - Time to Sell?

Key Points

• Amplitude, Inc. shares fell by 6.6%, trading around $10.70, with volume decreasing by 37% compared to average daily trading.
• Despite the recent drop, several analysts maintain a positive outlook with a consensus rating of "Moderate Buy" and a target price of $14.20.
• In the last quarter, Amplitude reported revenue of $83.27 million, exceeding expectations and showing a 13.6% increase from the previous year.

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) shares were down 6.6% on Tuesday . The company traded as low as $10.66 and last traded at $10.70. Approximately 795,736 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,273,107 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMPL shares. Bank of America upped their target price on Amplitude from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Benchmark restated a "buy" rating on shares of Amplitude in a research report on Friday, July 11th. DA Davidson reaffirmed a "buy" rating and issued a $16.00 price target on shares of Amplitude in a report on Monday. Piper Sandler increased their price objective on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Amplitude currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.20.

Amplitude Stock Down 6.4%

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -14.11 and a beta of 1.54. The stock's 50 day moving average price is $11.66 and its two-hundred day moving average price is $11.33.

Amplitude (NASDAQ:AMPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Amplitude had a negative net margin of 30.43% and a negative return on equity of 33.08%. The business had revenue of $83.27 million for the quarter, compared to the consensus estimate of $81.29 million. The firm's revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Amplitude news, Director Erica Schultz sold 10,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $11.06, for a total transaction of $110,600.00. Following the transaction, the director directly owned 107,406 shares of the company's stock, valued at $1,187,910.36. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 25,000 shares of company stock worth $290,750 over the last 90 days. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Amplitude

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. grew its position in shares of 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 during the last quarter. Squarepoint Ops LLC grew its position in shares of Amplitude by 932.3% in the second quarter. Squarepoint Ops LLC now owns 529,050 shares of the company's stock valued at $6,560,000 after purchasing an additional 477,801 shares during the last quarter. Caxton Associates LLP grew its position in shares of Amplitude by 31.0% in the second quarter. Caxton Associates LLP now owns 16,792 shares of the company's stock valued at $208,000 after purchasing an additional 3,971 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Amplitude by 86.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,477 shares of the company's stock valued at $130,000 after purchasing an additional 4,858 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of Amplitude in the second quarter valued at about $243,000. 73.20% of the stock is 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.

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