Amplitude, Inc. (NASDAQ:AMPL) Sees Significant Decline in Short Interest

Amplitude, Inc. (NASDAQ:AMPLGet Free Report) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,490,000 shares, a drop of 6.4% from the September 30th total of 2,660,000 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 453,100 shares, the short-interest ratio is presently 5.5 days.

Amplitude Trading Down 0.3 %

NASDAQ AMPL opened at $9.21 on Thursday. The firm’s 50 day simple moving average is $8.82 and its 200 day simple moving average is $8.83. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -13.54 and a beta of 1.33. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42.

Amplitude (NASDAQ:AMPLGet Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The business had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. During the same period in the prior year, the business posted ($0.17) EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Amplitude will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Amplitude

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Amplitude by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company’s stock valued at $88,214,000 after purchasing an additional 264,477 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Amplitude by 3,607.6% in the 1st quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock valued at $9,353,000 after acquiring an additional 836,535 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Amplitude by 19.5% during the 2nd quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock valued at $3,677,000 after acquiring an additional 67,500 shares in the last quarter. TD Asset Management Inc grew its position in Amplitude by 24.2% during the 2nd quarter. TD Asset Management Inc now owns 224,818 shares of the company’s stock worth $2,001,000 after acquiring an additional 43,780 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Amplitude by 918.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock worth $2,111,000 after purchasing an additional 174,967 shares in the last quarter. 73.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMPL has been the topic of several research reports. Piper Sandler decreased their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Robert W. Baird lowered their target price on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, UBS Group dropped their price target on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.33.

Read Our Latest Analysis on AMPL

About Amplitude

(Get Free Report)

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.

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