Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Grows By 60.7%

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,150,000 shares, a growth of 60.7% from the February 28th total of 1,960,000 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 770,700 shares, the days-to-cover ratio is presently 4.1 days.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Baird R W raised Amplitude from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 20th. KeyCorp raised shares of Amplitude from a “sector weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Friday, December 13th. Morgan Stanley increased their price objective on shares of Amplitude from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. UBS Group lifted their target price on Amplitude from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $16.00 price target on shares of Amplitude in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Transactions at Amplitude

In other Amplitude news, Director Eric Vishria sold 35,000 shares of the firm’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 directly owns 286,859 shares of the company’s stock, valued at $3,671,795.20. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in shares of Amplitude during the 4th quarter worth about $38,000. Aquatic Capital Management LLC lifted its stake in shares of Amplitude by 176.5% in the 4th quarter. Aquatic Capital Management LLC now owns 4,147 shares of the company’s stock valued at $44,000 after purchasing an additional 2,647 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Amplitude by 255.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,100 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Amplitude by 22.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,172 shares of the company’s stock valued at $86,000 after purchasing an additional 1,492 shares during the period. Finally, Meros Investment Management LP acquired a new stake in Amplitude in the fourth quarter worth $102,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.

Amplitude Stock Performance

Shares of NASDAQ AMPL opened at $10.25 on Monday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -13.15 and a beta of 1.35. The business’s 50-day simple moving average is $12.08 and its 200-day simple moving average is $10.70. Amplitude has a 52 week low of $7.37 and a 52 week high of $14.88.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $78.13 million for the quarter, compared to the consensus estimate 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, equities research analysts forecast that Amplitude will post -0.62 earnings per share for the current year.

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.