Amplitude (AMPL) Soars 10.7%: Is Further Upside Left in the Stock?

Amplitude, Inc. (AMPL) shares ended the last trading session 10.7% higher at $12.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.3% gain over the past four weeks.The stock is benefiting from the company’s continuous product innovation, which drives long-term value. Its evolving platform, catering to more users and workflows, has strengthened investor confidence.This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $76.54 million, up 7.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Amplitude, the consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AMPL going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Amplitude is a member of the Zacks Technology Services industry. One other stock in the same industry, Amprius Technologies (AMPX), finished the last trading session 5.8% higher at $3.26. AMPX has returned 3.4% over the past month.Amprius' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. Compared to the company's year-ago EPS, this represents no change. Amprius currently boasts a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amplitude, Inc. (AMPL): Free Stock Analysis Report Amprius Technologies, Inc. (AMPX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks