Amplitude (NASDAQ:AMPL) Issues FY24 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.07-$0.09 for the period, compared to the consensus EPS 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 NASDAQ AMPL traded down $0.18 during trading on Thursday, reaching $9.26. 649,791 shares of the stock were exchanged, compared to its average volume of 423,236. The business’s 50-day moving average price is $10.51 and its 200 day moving average price is $11.49. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. The firm had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.56 million. As a group, sell-side analysts expect that Amplitude will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on AMPL shares. KeyCorp started coverage on Amplitude in a research note on Thursday, March 21st. They set a sector weight rating for the company. Piper Sandler reiterated a neutral rating and set a $11.00 price objective on shares of Amplitude in a research note on Wednesday, February 21st. Scotiabank downgraded shares of Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 target price for the company. in a research report on Wednesday, February 21st. Citigroup reduced their price target on shares of Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Finally, Morgan Stanley lowered their price objective on Amplitude from $12.00 to $10.00 and set an underweight rating for the company in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $11.50.

Insider Activity

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

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.