Amplitude (NASDAQ:AMPL) Releases FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.070-0.090 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMPL. Scotiabank cut Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target on the stock. in a report 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 report on Wednesday, February 21st. KeyCorp started coverage on shares of Amplitude in a report on Thursday, March 21st. They issued a sector weight rating for the company. Morgan Stanley dropped their price target 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. Finally, 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $11.50.

Amplitude Stock Performance

Shares of NASDAQ:AMPL traded down $0.18 during midday trading on Thursday, reaching $9.26. The company had a trading volume of 651,296 shares, compared to its average volume of 424,551. The company has a fifty day simple moving average of $10.51 and a two-hundred day simple moving average of $11.49. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36. Amplitude has a 1-year low of $8.50 and a 1-year high of $14.42.

Amplitude (NASDAQ:AMPL) last released 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). Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. The firm had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.56 million. Analysts expect that Amplitude will post -0.62 EPS for the current year.

Insider Activity

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the sale, the director now directly owns 86,335 shares in the company, valued at approximately $1,033,429.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.71% of the stock is currently owned by corporate 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.