Amplitude (NASDAQ:AMPL) Hits New 52-Week Low – What’s Next?

Amplitude, Inc. (NASDAQ:AMPL)’s stock price hit a new 52-week low during trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMPL. BTIG Research began coverage on shares of Amplitude in a report on Tuesday, December 16th. They issued a “buy” rating and a $14.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amplitude in a research report on Monday, December 29th. UBS Group upgraded Amplitude from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, October 31st. Robert W. Baird upped their target price on Amplitude from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Finally, Morgan Stanley set a $16.00 price target on Amplitude and gave the company an “overweight” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amplitude presently has a consensus rating of “Moderate Buy” and an average target price of $14.40.

Amplitude Price Performance

The stock has a 50 day moving average of $10.72 and a 200 day moving average of $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 posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $88.56 million during the quarter, compared to analysts’ expectations of $86.29 million. Amplitude had a negative return on equity of 36.27% and a negative net margin of 31.36%.The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. On average, research analysts predict that Amplitude, Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amplitude news, CFO Andrew Casey purchased 30,000 shares of Amplitude stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $9.99 per share, for a total transaction of $299,700.00. Following the completion of the transaction, the chief financial officer directly owned 1,160,608 shares of the company’s stock, valued at approximately $11,594,473.92. The trade was a 2.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Erica Schultz sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $10.88, for a total transaction of $108,800.00. Following the completion of the sale, the director owned 114,906 shares of the company’s stock, valued at approximately $1,250,177.28. The trade was a 8.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 462,843 shares of company stock valued at $5,121,643 over the last quarter. 23.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Amplitude in the third quarter worth about $32,000. State of Alaska Department of Revenue bought a new position in Amplitude during the 3rd quarter worth approximately $48,000. Osaic Holdings Inc. increased its stake in Amplitude by 57.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,132 shares of the company’s stock worth $64,000 after purchasing an additional 1,879 shares during the period. Legato Capital Management LLC bought a new stake in Amplitude in the third quarter valued at approximately $112,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Amplitude in the third quarter valued at approximately $113,000. 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.