Amplitude (NASDAQ:AMPL) Issues Earnings Results, Meets 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) issued its quarterly earnings data on Wednesday. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01, Briefing.com reports. Amplitude had a negative return on equity of 33.08% and a negative net margin of 30.43%. The firm had revenue of $83.27 million during the quarter, compared to analyst estimates of $81.29 million. The business's revenue was up 13.6% on a year-over-year basis.

Amplitude Stock Performance

NASDAQ AMPL traded up $0.08 during trading hours on Tuesday, hitting $11.28. The company had a trading volume of 842,043 shares, compared to its average volume of 1,183,253. The business has a 50 day moving average of $12.39 and a 200-day moving average of $11.56. Amplitude has a 1-year low of $7.55 and a 1-year high of $14.88. The company has a market cap of $1.15 billion, a PE ratio of -14.80 and a beta of 1.54.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler boosted their target price on Amplitude from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Robert W. Baird reduced their price objective on shares of Amplitude from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Benchmark reissued a "buy" rating on shares of Amplitude in a research note on Friday, July 11th. Morgan Stanley upped their price target on Amplitude from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, UBS Group reduced their price target on Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.80.

Insider Activity

In other Amplitude news, Director Erica Schultz sold 26,394 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $329,661.06. Following the transaction, the director directly owned 92,500 shares in the company, valued at approximately $1,155,325. This represents a 22.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Catherine Wong sold 8,502 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.49, for a total transaction of $106,189.98. Following the completion of the sale, the director owned 79,152 shares in the company, valued at $988,608.48. This represents a 9.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,911 shares of company stock valued at $571,352 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amplitude

A number of hedge funds have recently made changes to their positions in AMPL. AQR Capital Management LLC raised its stake in shares of Amplitude by 120.7% in the 1st quarter. AQR Capital Management LLC now owns 226,486 shares of the company's stock valued at $2,308,000 after acquiring an additional 123,886 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amplitude by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,399 shares of the company's stock valued at $473,000 after buying an additional 2,038 shares during the period. NewEdge Advisors LLC acquired a new position in Amplitude during the 1st quarter valued at about $580,000. Jones Financial Companies Lllp boosted its stake in Amplitude by 93,569.0% during the 1st quarter. Jones Financial Companies Lllp now owns 93,669 shares of the company's stock valued at $954,000 after purchasing an additional 93,569 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Amplitude by 60.0% during the 1st 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 in the last quarter. 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.