Amplitude (NASDAQ:AMPL) Releases FY24 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.05-$0.08 for the period, compared to the consensus estimate of $0.08. The company issued revenue guidance of $294.5-$296.5 million, compared to the consensus revenue estimate of $294.03 million. Amplitude also updated its FY 2024 guidance to 0.050-0.080 EPS.

Amplitude Price Performance

Shares of Amplitude stock opened at $7.95 on Friday. The firm has a market cap of $968.64 million, a P/E ratio of -10.89 and a beta of 1.31. The firm has a 50 day simple moving average of $8.37 and a 200 day simple moving average of $10.11. Amplitude has a fifty-two week low of $7.37 and a fifty-two week high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly 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 company had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. On average, sell-side analysts expect that Amplitude will post -0.62 EPS for the current year.

Analysts Set New Price Targets

AMPL has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Amplitude from $11.00 to $9.00 and set a neutral rating for the company in a report on Friday, July 12th. Morgan Stanley lowered their target price on shares of Amplitude from $10.00 to $9.00 and set an underweight rating for the company in a report on Friday, May 10th. Robert W. Baird lowered their target price on shares of Amplitude from $12.00 to $10.00 and set a neutral rating for the company in a report on Friday. Finally, UBS Group lowered their target price on shares of Amplitude from $11.00 to $9.00 and set a neutral rating for the company in a report on Friday. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $10.33.

Insider Transactions at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of Amplitude 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 transaction, the director now directly owns 82,820 shares of the company’s stock, valued at $758,631.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.