Amplitude, Inc. (NASDAQ:AMPL) Short Interest Update

Amplitude, Inc. (NASDAQ:AMPL) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,960,000 shares, an increase of 17.4% from the February 13th total of 1,670,000 shares. Based on an average daily trading volume, of 661,300 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.5% of the shares of the company are short sold.

Amplitude Stock Performance

Shares of NASDAQ AMPL opened at $11.64 on Thursday. The firm has a market cap of $1.51 billion, a P/E ratio of -15.12 and a beta of 1.35. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.88. The firm’s 50 day moving average price is $11.95 and its 200 day moving average price is $10.55.

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

Wall Street Analysts Forecast Growth

AMPL has been the subject of several research analyst reports. Bank of America increased their price objective on Amplitude from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. KeyCorp upgraded shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 13th. Citigroup upped their target price on shares of Amplitude from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Robert W. Baird upgraded shares of Amplitude from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $12.00 to $17.00 in a research report on Thursday, February 20th. Finally, Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amplitude presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Insiders Place Their Bets

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the director now owns 286,859 shares in the company, valued at approximately $3,671,795.20. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amplitude

Several hedge funds and other institutional investors have recently modified their holdings of the company. Occudo Quantitative Strategies LP raised its holdings in Amplitude by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 41,365 shares of the company’s stock valued at $436,000 after buying an additional 832 shares during the period. Rhumbline Advisers raised its stake in shares of Amplitude by 1.0% in the 4th quarter. Rhumbline Advisers now owns 101,954 shares of the company’s stock valued at $1,076,000 after acquiring an additional 1,040 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Amplitude by 22.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after acquiring an additional 1,492 shares in the last quarter. Legal & General Group Plc boosted its position in Amplitude by 2.6% during the 4th quarter. Legal & General Group Plc now owns 82,998 shares of the company’s stock worth $876,000 after purchasing an additional 2,111 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Amplitude by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,361 shares of the company’s stock valued at $468,000 after purchasing an additional 2,512 shares in the last quarter. 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.