Amplitude, Inc. (NASDAQ:AMPL) Short Interest Up 17.4% in February

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,960,000 shares, a growth of 17.4% from the February 13th total of 1,670,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 661,300 shares, the days-to-cover ratio is presently 3.0 days.

Analysts Set New Price Targets

AMPL has been the subject of several research analyst reports. Piper Sandler increased their target price on shares of Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Robert W. Baird raised shares of Amplitude from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $17.00 in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Amplitude in a report on Tuesday, March 11th. Morgan Stanley raised their target price on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Bank of America raised their target price on shares of Amplitude from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Transactions at Amplitude

In related news, Director Eric Vishria sold 35,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the director now owns 286,859 shares of the company’s stock, valued at approximately $3,671,795.20. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Amplitude in the fourth quarter worth $38,000. Aquatic Capital Management LLC grew its stake in shares of Amplitude by 176.5% in the fourth quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock worth $44,000 after purchasing an additional 2,647 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Amplitude by 255.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after purchasing an additional 5,100 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Amplitude by 22.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock worth $86,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Meros Investment Management LP bought a new position in shares of Amplitude in the fourth quarter worth $102,000. 73.20% of the stock is currently owned by institutional investors.

Amplitude Stock Up 1.8 %

Shares of AMPL opened at $12.16 on Wednesday. The business’s 50 day moving average is $11.93 and its two-hundred day moving average is $10.54. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.88. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -15.79 and a beta of 1.35.

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

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.