Amplitude (NASDAQ:AMPL) Releases FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.050-0.080 for the period, compared to the consensus estimate of 0.080. The company issued revenue guidance of $294.5 million-$296.5 million, compared to the consensus revenue estimate of $294.0 million. Amplitude also updated its FY24 guidance to $0.05-$0.08 EPS.

Wall Street Analyst Weigh In

A number of research firms have commented on AMPL. Morgan Stanley reduced their price objective on shares of Amplitude from $10.00 to $9.00 and set an underweight rating on the stock in a research note on Friday, May 10th. Robert W. Baird reduced their price objective on shares of Amplitude from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Friday. UBS Group reduced their price objective on shares of Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research note on Friday. Finally, Piper Sandler reduced their price objective on shares of Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $10.33.

Amplitude Stock Down 0.4 %

Shares of NASDAQ:AMPL traded down $0.03 on Friday, reaching $7.95. 753,252 shares of the company’s stock were exchanged, compared to its average volume of 547,830. The firm has a market capitalization of $968.64 million, a price-to-earnings ratio of -10.89 and a beta of 1.31. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42. The business’s 50-day moving average is $8.37 and its two-hundred day moving average is $10.13.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). The business had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative return on equity of 26.15% and a negative net margin of 30.28%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Analysts predict that Amplitude will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.16, for a total transaction of $32,197.40. Following the sale, the director now directly owns 82,820 shares of the company’s stock, valued at $758,631.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.71% of the stock is owned by corporate insiders.

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.