Amplitude (NASDAQ:AMPL) Shares Up 7.3% – Time to Buy?

Shares of Amplitude, Inc. (NASDAQ:AMPL) shot up 7.3% on Tuesday . The company traded as high as $12.09 and last traded at $12.12. 199,219 shares were traded during trading, a decline of 41% from the average session volume of 339,093 shares. The stock had previously closed at $11.30.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMPL. Piper Sandler raised Amplitude from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $15.00 in a research report on Monday, January 6th. KeyCorp raised Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Friday, December 13th. Scotiabank boosted their price objective 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 boosted their price target on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded Amplitude from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $10.00 to $11.00 in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.43.

Amplitude Trading Down 0.6 %

The stock has a market cap of $1.13 billion, a PE ratio of -17.76 and a beta of 1.34. The company has a fifty day moving average of $10.98 and a 200-day moving average of $9.59.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 6,437 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total transaction of $77,372.74. Following the sale, the director now owns 279,771 shares in the company, valued at $3,362,847.42. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 35,000 shares of company stock worth $374,629 in the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amplitude

Several large investors have recently bought and sold shares of AMPL. The Manufacturers Life Insurance Company increased its holdings in shares of Amplitude by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,934 shares of the company’s stock valued at $355,000 after acquiring an additional 4,647 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Amplitude during the 2nd quarter worth approximately $389,000. SG Americas Securities LLC purchased a new position in Amplitude during the 3rd quarter worth approximately $326,000. Inspire Investing LLC grew its stake in Amplitude by 16.3% during the 3rd quarter. Inspire Investing LLC now owns 46,088 shares of the company’s stock worth $413,000 after buying an additional 6,464 shares during the last quarter. Finally, Creative Planning grew its stake in Amplitude by 152.4% during the 3rd quarter. Creative Planning now owns 26,166 shares of the company’s stock worth $235,000 after buying an additional 15,800 shares during the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.

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.