Yahoo Finance Is Amplitude (AMPL) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Amplitude, Inc. (AMPL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Amplitude, Inc. is a member of our Business Services group, which includes 344 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Amplitude, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMPL's full-year earnings has moved 0.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AMPL has returned about 27.7% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 11.7% on average. This means that Amplitude, Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Confluent (CFLT), has outperformed the sector so far this year. The stock's year-to-date return is 21.8%.
Over the past three months, Confluent's consensus EPS estimate for the current year has increased 11.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Amplitude, Inc. is a member of the Technology Services industry, which includes 199 individual companies and currently sits at #144 in the Zacks Industry Rank. Stocks in this group have gained about 22.4% so far this year, so AMPL is performing better this group in terms of year-to-date returns. Confluent is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Amplitude, Inc. and Confluent as they attempt to continue their solid performance.
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Amplitude, Inc. (AMPL) : Free Stock Analysis Report
Confluent, Inc. (CFLT) : Free Stock Analysis Report
