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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMPL shares. DA Davidson reiterated a “buy” rating and issued a $16.00 price objective on shares of Amplitude in a research note on Tuesday, March 11th. Bank of America boosted their price target on shares of Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Friday, December 13th. Piper Sandler boosted their price objective on Amplitude from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Baird R W raised shares of Amplitude from a “hold” rating to a “strong-buy” rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Amplitude Stock Down 2.6 %

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -15.34 and a beta of 1.35. The business’s 50-day moving average is $11.93 and its two-hundred day moving average is $10.54.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share 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 analyst estimates of $76.68 million. Amplitude had a negative net margin of 31.52% and a negative return on equity of 32.24%. As a group, analysts forecast that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the transaction, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. This represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Amplitude

Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its stake in Amplitude by 371.7% in the 3rd quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after purchasing an additional 101,289 shares during the last quarter. M&T Bank Corp raised its stake in shares of Amplitude by 86.8% in the 3rd quarter. M&T Bank Corp now owns 156,688 shares of the company’s stock valued at $1,405,000 after acquiring an additional 72,806 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Amplitude by 38.9% during the third quarter. JPMorgan Chase & Co. now owns 84,050 shares of the company’s stock worth $754,000 after purchasing an additional 23,526 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Amplitude in the third quarter worth about $726,000. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Amplitude during the 4th quarter valued at about $1,498,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Amplitude Company Profile

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.