Amplitude (NASDAQ:AMPL) Sets New 1-Year Low – Here’s What Happened

Amplitude, Inc. (NASDAQ:AMPL)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $7.26 and last traded at $7.31, with a volume of 1478891 shares trading hands. The stock had previously closed at $7.91.

Analysts Set New Price Targets

Several research firms have recently commented on AMPL. Robert W. Baird boosted their price objective on Amplitude from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Morgan Stanley set a $16.00 price target on shares of Amplitude and gave the company an “overweight” rating in a research note on Thursday, January 15th. Piper Sandler reduced their price objective on shares of Amplitude from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Amplitude in a report on Monday, December 29th. Finally, BTIG Research started coverage on Amplitude in a research note on Tuesday, December 16th. They set a “buy” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Amplitude Stock Down 7.6%

The firm’s 50-day simple moving average is $10.72 and its 200 day simple moving average is $10.89. The firm has a market cap of $977.27 million, a P/E ratio of -9.14 and a beta of 1.48.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $88.56 million for the quarter, compared to analyst estimates of $86.29 million. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, analysts forecast that Amplitude, Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Amplitude news, CFO Andrew Casey bought 30,000 shares of Amplitude stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $9.99 per share, for a total transaction of $299,700.00. Following the completion of the purchase, the chief financial officer directly owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. This trade represents a 2.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Spenser Skates sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $10.99, for a total transaction of $4,396,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 462,843 shares of company stock worth $5,121,643 over the last quarter. 23.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amplitude

A number of large investors have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in shares of Amplitude by 5.6% during the 2nd quarter. ProShare Advisors LLC now owns 17,865 shares of the company’s stock valued at $222,000 after purchasing an additional 955 shares during the period. Blue Trust Inc. grew its holdings in Amplitude by 3.9% during the 3rd quarter. Blue Trust Inc. now owns 34,092 shares of the company’s stock valued at $365,000 after buying an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Amplitude by 2.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,739 shares of the company’s stock valued at $592,000 after buying an additional 1,340 shares during the period. Osaic Holdings Inc. increased its position in shares of Amplitude by 57.8% during the second quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock valued at $64,000 after buying an additional 1,879 shares during the period. Finally, CWM LLC lifted its holdings in shares of Amplitude by 14.1% in the second quarter. CWM LLC now owns 16,291 shares of the company’s stock worth $202,000 after buying an additional 2,018 shares in the last quarter. 73.20% of the stock is owned by institutional investors.

Amplitude Company Profile

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.