Amplitude (NASDAQ:AMPL) Issues FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.070-0.090 for the period, compared to the consensus EPS estimate of 0.090. The company issued revenue guidance of $292.5 million-$295.5 million, compared to the consensus revenue estimate of $293.1 million. Amplitude also updated its FY24 guidance to $0.07-$0.09 EPS.

Wall Street Analyst Weigh In

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

Amplitude Price Performance

Amplitude stock traded down $0.18 during mid-day trading on Thursday, hitting $9.26. The company’s stock had a trading volume of 651,296 shares, compared to its average volume of 424,551. The business has a 50 day moving average price of $10.51 and a 200-day moving average price of $11.49. Amplitude has a 12 month low of $8.50 and a 12 month high of $14.42. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36.

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

Insider Buying and Selling

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction 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 owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.71% of the stock is owned by insiders.

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.