Amplitude (NASDAQ:AMPL) Releases Q2 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.020–0.010 for the period, compared to the consensus earnings per share estimate of 0.010. The company issued revenue guidance of $71.7 million-$72.3 million, compared to the consensus revenue estimate of $71.5 million. Amplitude also updated its FY 2024 guidance to 0.070-0.090 EPS.

Amplitude Stock Performance

Shares of NASDAQ:AMPL traded down $0.18 during trading hours on Thursday, hitting $9.26. 651,296 shares of the company’s stock traded hands, compared to its average volume of 424,551. The company’s fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $11.49. The company 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 52 week low of $8.50 and a 52 week high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its earnings results 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). The business had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.56 million. Amplitude had a negative return on equity of 27.73% and a negative net margin of 32.71%. On average, analysts anticipate that Amplitude will post -0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMPL shares. KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They set a sector weight rating on the stock. Citigroup cut their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Piper Sandler reiterated a neutral rating and issued a $11.00 target price on shares of Amplitude in a report 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 on the stock. in a research report on Wednesday, February 21st. Finally, Morgan Stanley reduced their price target on shares of Amplitude from $12.00 to $10.00 and set an underweight rating for the company in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $11.50.

Insider Activity

In related news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction on 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 owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.