Short Interest in Amplitude, Inc. (NASDAQ:AMPL) Declines By 6.4%

Amplitude, Inc. (NASDAQ:AMPL) was the target of a significant drop in short interest during 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. Based on an average daily trading volume, of 453,100 shares, the short-interest ratio is currently 5.5 days. Approximately 3.5% of the company’s shares are sold short.

Amplitude Stock Down 2.4 %

NASDAQ:AMPL opened at $8.99 on Friday. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.42. The stock has a market cap of $1.11 billion, a P/E ratio of -13.22 and a beta of 1.33. The business’s 50-day moving average price is $8.82 and its two-hundred day moving average price is $8.83.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.18). Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The company had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.98 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Amplitude will post -0.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on AMPL. UBS Group dropped their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. 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 report on Friday, August 9th. Finally, Piper Sandler dropped their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Amplitude by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock valued at $141,000 after purchasing an additional 1,099 shares during the last quarter. ProShare Advisors LLC raised its stake in Amplitude by 10.2% during the first quarter. ProShare Advisors LLC now owns 12,356 shares of the company’s stock valued at $134,000 after buying an additional 1,145 shares during the last quarter. Blue Trust Inc. boosted its holdings in Amplitude by 13.5% in the third quarter. Blue Trust Inc. now owns 19,518 shares of the company’s stock worth $174,000 after acquiring an additional 2,324 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Amplitude by 14.4% in the second quarter. Arizona State Retirement System now owns 21,037 shares of the company’s stock worth $187,000 after acquiring an additional 2,642 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Amplitude in the first quarter worth approximately $32,000. 73.20% of the stock is currently owned by institutional investors.

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.