Amplitude (NASDAQ:AMPL) Updates FY24 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.07-$0.09 for the period, compared to the consensus estimate of $0.09. The company issued revenue guidance of $292.5-$295.5 million, compared to the consensus revenue estimate of $293.13 million. Amplitude also updated its Q2 guidance to ($0.02)-($0.01) EPS.

Amplitude Stock Down 1.9 %

Shares of AMPL traded down $0.18 during trading hours on Thursday, hitting $9.26. The company had a trading volume of 649,791 shares, compared to its average volume of 423,236. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36. The business has a fifty day moving average of $10.51 and a 200-day moving average of $11.49. Amplitude has a 12 month low of $8.50 and a 12 month high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. The company had revenue of $71.40 million for the quarter, compared to analyst estimates of $71.56 million. On average, equities analysts expect that Amplitude will post -0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMPL. Citigroup dropped their target price on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Morgan Stanley decreased their target price on shares of Amplitude from $12.00 to $10.00 and set an underweight rating on the stock in a research report on Wednesday, April 17th. Piper Sandler reaffirmed a neutral rating and set a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. Scotiabank cut Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target for the company. in a research note on Wednesday, February 21st. Finally, KeyCorp began coverage on Amplitude in a report on Thursday, March 21st. They issued a sector weight rating for the company. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Amplitude presently has a consensus rating of Hold and a consensus target price of $11.50.

Insiders Place Their Bets

In other news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $11.97, for a total value of $42,074.55. Following the sale, the director now directly owns 86,335 shares in the company, valued at approximately $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 28.71% of the company’s stock.

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.