Amplitude (NASDAQ:AMPL) Stock Price Up 7.3% – Should You Buy?

Amplitude, Inc. (NASDAQ:AMPL)’s share price shot up 7.3% on Tuesday . The stock traded as high as $12.09 and last traded at $12.12. 199,219 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 339,093 shares. The stock had previously closed at $11.30.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMPL. Scotiabank raised their price target on Amplitude from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Morgan Stanley raised Amplitude from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $11.00 in a research note on Monday, January 13th. Robert W. Baird boosted their price target on Amplitude from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Friday, December 13th. Finally, Piper Sandler raised shares of Amplitude from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $11.00 to $15.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.43.

Amplitude Trading Up 10.7 %

The firm has a market cap of $1.18 billion, a P/E ratio of -18.67 and a beta of 1.34. The stock has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $9.54.

Insider Buying and Selling

In related news, Director Eric Vishria sold 6,437 shares of Amplitude stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.02, for a total value of $77,372.74. Following the completion of the transaction, the director now owns 279,771 shares in the company, valued at approximately $3,362,847.42. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Amplitude by 58.3% in the fourth quarter. Blue Trust Inc. now owns 30,902 shares of the company’s stock worth $326,000 after buying an additional 11,384 shares during the last quarter. SG Americas Securities LLC grew its holdings in Amplitude by 15.7% during the 4th quarter. SG Americas Securities LLC now owns 42,107 shares of the company’s stock valued at $444,000 after purchasing an additional 5,726 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in Amplitude in the 4th quarter worth about $1,498,000. JPMorgan Chase & Co. lifted its stake in Amplitude by 38.9% in 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 during the last quarter. Finally, Barclays PLC grew its stake in shares of Amplitude by 371.7% during the third quarter. Barclays PLC now owns 128,537 shares of the company’s stock valued at $1,153,000 after buying an additional 101,289 shares during the last quarter. 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.