Q2 2024 EPS Estimates for Amplitude, Inc. Cut by DA Davidson (NASDAQ:AMPL)

Amplitude, Inc. (NASDAQ:AMPL) – Analysts at DA Davidson decreased their Q2 2024 earnings per share estimates for shares of Amplitude in a research report issued on Wednesday, July 24th. DA Davidson analyst G. Luria now forecasts that the company will earn ($0.18) per share for the quarter, down from their prior forecast 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.

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

Several other analysts have also recently commented on the stock. Morgan Stanley decreased their price target on shares of Amplitude from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th. UBS Group decreased their price objective on Amplitude from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, Piper Sandler dropped their target price on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.80.

Amplitude Stock Up 2.8 %

Shares of NASDAQ: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 firm has a market cap of $1.07 billion, a P/E ratio of -12.01 and a beta of 1.31. The company’s 50-day moving average price is $8.64 and its two-hundred day moving average price is $10.42.

Hedge Funds Weigh In On Amplitude

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its position in shares of Amplitude by 918.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 194,010 shares of the company’s stock valued at $2,111,000 after acquiring an additional 174,967 shares during the period. Janus Henderson Group PLC raised its holdings in Amplitude by 3,607.6% in the first quarter. Janus Henderson Group PLC now owns 859,723 shares of the company’s stock worth $9,353,000 after purchasing an additional 836,535 shares during the period. MQS Management LLC acquired a new stake in Amplitude in the first quarter worth $120,000. Bessemer Group Inc. bought a new position in shares of Amplitude during the first quarter worth $177,000. Finally, Vanguard Group Inc. grew 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 buying an additional 264,477 shares during the period. Institutional investors own 73.20% of the company’s stock.

Insider Activity at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.16, for a total transaction of $32,197.40. Following the completion of the sale, the director now owns 82,820 shares of the company’s stock, valued at approximately $758,631.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 28.71% of the stock is currently owned by company 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.