DA Davidson Comments on Amplitude, Inc.’s Q3 2024 Earnings (NASDAQ:AMPL)

Amplitude, Inc. (NASDAQ:AMPL) – Equities researchers at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Amplitude in a research report issued on Monday, August 12th. DA Davidson analyst G. Luria expects that the company will post earnings per share of ($0.16) 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 FY2025 earnings at ($0.58) EPS.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler cut their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. UBS Group cut their price objective on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Morgan Stanley decreased their target price on Amplitude from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, May 10th. Finally, Robert W. Baird cut their price target on Amplitude from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.33.

Amplitude Price Performance

Shares of AMPL opened at $8.49 on Wednesday. The company has a market cap of $1.03 billion, a PE ratio of -11.63 and a beta of 1.31. The firm has a 50-day moving average of $8.35 and a 200-day moving average of $10.00. Amplitude has a one year low of $7.37 and a one year high of $14.42.

Amplitude (NASDAQ:AMPL) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The company had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS.

Institutional Trading of Amplitude

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Amplitude by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the company’s stock worth $141,000 after purchasing an additional 1,099 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Amplitude by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 12,356 shares of the company’s stock worth $134,000 after purchasing an additional 1,145 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Amplitude by 8.6% during the fourth quarter. Arizona State Retirement System now owns 17,278 shares of the company’s stock worth $220,000 after purchasing an additional 1,362 shares during the period. Parallel Advisors LLC raised its position in shares of Amplitude by 10.1% in the fourth quarter. Parallel Advisors LLC now owns 29,244 shares of the company’s stock valued at $372,000 after buying an additional 2,678 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Amplitude during the 1st quarter worth $32,000. 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.