Amplitude (NASDAQ:AMPL) Updates FY 2024 Earnings Guidance

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

Amplitude Price Performance

Shares of Amplitude stock 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. Amplitude has a 12-month low of $8.50 and a 12-month high of $14.42. The company has a fifty day simple moving average of $10.51 and a 200-day simple moving average of $11.49. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) 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 company had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.56 million. On average, analysts forecast that Amplitude will post -0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on AMPL. Morgan Stanley cut their price target 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. KeyCorp initiated coverage on Amplitude in a research note on Thursday, March 21st. They issued a sector weight rating on the stock. Piper Sandler reaffirmed a neutral rating and issued a $11.00 target price on shares of Amplitude in a research note on Wednesday, February 21st. Citigroup decreased their price target on shares of Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Finally, Scotiabank downgraded Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target on the stock. in a research report on Wednesday, February 21st. One 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, Amplitude currently has a consensus rating of Hold and an average target price of $11.50.

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the transaction, the director now directly owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 28.71% of the company’s stock.

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.