Horrell Capital Management Inc. Invests $1.60 Million in Amplitude, Inc. (NASDAQ:AMPL)

Horrell Capital Management Inc. bought a new position in Amplitude, Inc. (NASDAQ:AMPL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 178,000 shares of the company’s stock, valued at approximately $1,597,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Amplitude by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 7,843,411 shares of the company’s stock worth $99,768,000 after purchasing an additional 105,616 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Amplitude by 19.5% in the 2nd quarter. Renaissance Technologies LLC now owns 413,100 shares of the company’s stock worth $3,677,000 after purchasing an additional 67,500 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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 during the last quarter. Bessemer Group Inc. bought a new stake in shares of Amplitude in the 1st quarter worth approximately $177,000. Finally, Inspire Investing LLC bought a new stake in Amplitude during the 1st quarter valued at $358,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

Amplitude Price Performance

Shares of AMPL traded up $0.09 during midday trading on Tuesday, reaching $9.10. The stock had a trading volume of 23,579 shares, compared to its average volume of 517,589. The company has a market capitalization of $1.11 billion, a P/E ratio of -12.34 and a beta of 1.33. The firm’s 50 day moving average price is $8.80 and its 200-day moving average price is $8.83. Amplitude, Inc. has a 52 week low of $7.37 and a 52 week high of $14.42.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMPL. Robert W. Baird cut their target price on Amplitude from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Piper Sandler cut their target price on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, UBS Group cut their target price on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.33.

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.