Amplitude (NASDAQ:AMPL) Updates Q2 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of -0.020–0.010 for the period, compared to the consensus EPS 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 Price Performance

NASDAQ:AMPL traded down $0.18 during trading hours on Thursday, reaching $9.26. 651,296 shares of the stock were exchanged, compared to its average volume of 424,551. The stock has a market cap of $1.12 billion, a PE ratio of -11.87 and a beta of 1.36. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42. The firm has a 50 day moving average of $10.51 and a 200 day moving average of $11.49.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $71.40 million during 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%. Equities research analysts anticipate that Amplitude will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

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

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 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 approximately $1,033,429.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.71% of the stock is owned by 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.