Brokers Set Expectations for Amplitude, Inc.'s Q2 2024 Earnings (NASDAQ:AMPL)

Amplitude, Inc. (NASDAQ:AMPL - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Amplitude in a research note issued on Monday, May 13th. DA Davidson analyst G. Luria expects that the company will earn ($0.17) per share for the quarter. The consensus estimate for Amplitude's current full-year earnings is ($0.62) per share. DA Davidson also issued estimates for Amplitude's FY2024 earnings at ($0.62) EPS and FY2025 earnings at ($0.60) EPS.

Amplitude (NASDAQ:AMPL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $71.40 million during the quarter, compared to analysts' expectations of $71.56 million. Amplitude had a negative return on equity of 26.15% and a negative net margin of 30.28%.

AMPL has been the topic of several other reports. UBS Group decreased their price objective on shares of Amplitude from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 10th. Scotiabank downgraded Amplitude from a "sector outperform" rating to a "sector perform" rating and set a $12.00 price objective on the stock. in a report on Wednesday, February 21st. Morgan Stanley lowered their target price on Amplitude from $10.00 to $9.00 and set an "underweight" rating for the company in a report on Friday, May 10th. Citigroup cut their price target on shares of Amplitude from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Finally, Piper Sandler reissued a "neutral" rating and issued a $11.00 price objective on shares of Amplitude in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.20.

Amplitude Trading Up 1.7 %

NASDAQ AMPL traded up $0.15 during trading hours on Wednesday, reaching $9.49. The company had a trading volume of 444,173 shares, compared to its average volume of 435,928. Amplitude has a 1-year low of $8.50 and a 1-year high of $14.42. The stock has a market capitalization of $1.14 billion, a P/E ratio of -13.00 and a beta of 1.36. The stock has a 50-day moving average of $10.30 and a 200 day moving average of $11.46.

Insider Activity

In related news, Director Catherine Wong sold 3,515 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $11.97, for a total value of $42,074.55. Following the transaction, the director now owns 86,335 shares of the company's stock, valued at $1,033,429.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.71% of the company's stock.

Hedge Funds Weigh In On Amplitude

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Amplitude by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 8,107,888 shares of the company's stock valued at $88,214,000 after purchasing an additional 264,477 shares during the last quarter. FMR LLC grew its position in shares of Amplitude by 15.1% during the third quarter. FMR LLC now owns 2,949,218 shares of the company's stock worth $34,122,000 after acquiring an additional 386,413 shares during the last quarter. Sunriver Management LLC grew its position in shares of Amplitude by 28.2% during the fourth quarter. Sunriver Management LLC now owns 2,242,883 shares of the company's stock worth $28,529,000 after acquiring an additional 493,046 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its position in Amplitude by 14.3% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,515,100 shares of the company's stock valued at $19,272,000 after purchasing an additional 190,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Amplitude by 17.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,024,965 shares of the company's stock worth $11,859,000 after purchasing an additional 149,397 shares during the period. 73.20% of the stock is owned by institutional investors and hedge funds.

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.