Amplitude (NASDAQ:AMPL) Releases Quarterly Earnings Results, Hits Estimates

Key Points

• Amplitude reported $0.01 earnings per share, matching analysts' expectations, with revenue of $83.27 million for the quarter, surpassing consensus estimates.
• The company experienced a 13.6% increase in revenue year-over-year but continues to face challenges with a negative net margin of 30.43%.
• Institutional ownership of Amplitude stands at 73.20%, with notable recent activity including a significant stake increase by UBS Asset Management and sales by company directors.

Amplitude (NASDAQ:AMPL - Get Free Report) posted its earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01, Briefing.com reports. Amplitude had a negative net margin of 30.43% and a negative return on equity of 32.73%. The firm had revenue of $83.27 million during the quarter, compared to the consensus estimate of $81.29 million. The company's revenue for the quarter was up 13.6% on a year-over-year basis.

Amplitude Trading Up 3.1%

NASDAQ:AMPL opened at $12.60 on Friday. The stock has a 50 day simple moving average of $12.43 and a 200 day simple moving average of $11.56. The stock has a market cap of $1.24 billion, a P/E ratio of -16.58 and a beta of 1.54. Amplitude has a 1-year low of $7.55 and a 1-year high of $14.88.

Insiders Place Their Bets

In related news, Director Erica Schultz sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $12.56, for a total transaction of $94,200.00. Following the sale, the director owned 107,406 shares of the company's stock, valued at $1,349,019.36. This represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Catherine Wong sold 8,502 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.49, for a total transaction of $106,189.98. Following the sale, the director directly owned 79,152 shares of the company's stock, valued at approximately $988,608.48. This trade represents a 9.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,911 shares of company stock valued at $571,352 in the last three months. Insiders own 23.83% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMPL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Amplitude by 36.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,634 shares of the company's stock valued at $2,034,000 after buying an additional 53,791 shares during the period. Caxton Associates LLP bought a new stake in Amplitude during the 1st quarter valued at $131,000. Goldman Sachs Group Inc. raised its holdings in Amplitude by 60.0% during the first quarter. Goldman Sachs Group Inc. now owns 473,491 shares of the company's stock worth $4,825,000 after buying an additional 177,599 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Amplitude by 93,569.0% during the first quarter. Jones Financial Companies Lllp now owns 93,669 shares of the company's stock worth $954,000 after acquiring an additional 93,569 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Amplitude in the 1st quarter worth about $580,000. Institutional investors own 73.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Amplitude from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Scotiabank cut their price objective on Amplitude from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Morgan Stanley increased their target price on shares of Amplitude from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. UBS Group cut their price objective on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, DA Davidson lowered their price objective on shares of Amplitude from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Amplitude presently has an average rating of "Moderate Buy" and an average price target of $13.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.