Amplitude (NASDAQ:AMPL) Shares Gap Up – Should You Buy?

Shares of Amplitude, Inc. (NASDAQ:AMPL) gapped up before the market opened on Friday . The stock had previously closed at $11.39, but opened at $11.85. Amplitude shares last traded at $11.72, with a volume of 123,645 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMPL. 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. Scotiabank boosted their price target on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on shares of Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their target price on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.57.

Amplitude Stock Up 2.4 %

The company has a 50 day moving average of $9.84 and a 200 day moving average of $9.01.

Insider Activity

In related news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total value of $254,500.00. Following the completion of the transaction, the director now owns 286,208 shares in the company, valued at approximately $2,913,597.44. The trade was a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Amplitude

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Amplitude in the 2nd quarter valued at $41,000. Principal Financial Group Inc. acquired a new stake in shares of Amplitude in the 2nd quarter valued at about $92,000. Intech Investment Management LLC acquired a new stake in shares of Amplitude in the third quarter valued at approximately $128,000. XTX Topco Ltd purchased a new position in shares of Amplitude during the second quarter worth approximately $133,000. Finally, MQS Management LLC boosted its stake in Amplitude by 69.4% during the 2nd quarter. MQS Management LLC now owns 18,617 shares of the company’s stock worth $166,000 after purchasing an additional 7,625 shares during the period. Institutional investors and hedge funds 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.