DA Davidson Comments on Amplitude, Inc.’s Q2 2024 Earnings (NASDAQ:AMPL)

Amplitude, Inc. (NASDAQ:AMPL) – Investment analysts at DA Davidson lowered their Q2 2024 earnings estimates for Amplitude in a research note issued on Wednesday, July 24th. DA Davidson analyst G. Luria now forecasts that the company will post earnings per share of ($0.18) for the quarter, down from their prior estimate of ($0.17). 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 ($0.59) EPS.

Other research analysts also recently issued reports about the company. UBS Group cut their price objective on Amplitude from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Piper Sandler cut their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley reduced their price objective on Amplitude from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.80.

Amplitude Trading Up 2.8 %

Shares of AMPL opened at $8.77 on Friday. Amplitude has a 12-month low of $7.88 and a 12-month high of $14.42. The stock has a market cap of $1.07 billion, a P/E ratio of -12.01 and a beta of 1.31. The company has a 50-day moving average of $8.64 and a two-hundred day moving average of $10.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $72.62 million during the quarter, compared to analysts’ expectations of $72.25 million. Amplitude had a negative return on equity of 26.15% and a negative net margin of 30.28%.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Amplitude by 17.9% in the third quarter. Vanguard Group Inc. now owns 7,737,795 shares of the company’s stock valued at $89,526,000 after purchasing an additional 1,177,465 shares during the period. SG Americas Securities LLC lifted its position in Amplitude by 69.6% during the 4th quarter. SG Americas Securities LLC now owns 17,049 shares of the company’s stock worth $217,000 after acquiring an additional 6,998 shares in the last quarter. Arizona State Retirement System boosted its holdings in Amplitude by 8.6% in the 4th quarter. Arizona State Retirement System now owns 17,278 shares of the company’s stock worth $220,000 after acquiring an additional 1,362 shares during the period. Vishria Bird Financial Group LLC grew its position in Amplitude by 0.4% in the fourth quarter. Vishria Bird Financial Group LLC now owns 198,557 shares of the company’s stock valued at $2,526,000 after acquiring an additional 885 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Amplitude by 22.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,885 shares of the company’s stock valued at $151,000 after purchasing an additional 2,170 shares during the period. 73.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.16, for a total transaction of $32,197.40. Following the transaction, the director now owns 82,820 shares of the company’s stock, valued at approximately $758,631.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 28.71% of the stock is owned by corporate insiders.

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.