Amplitude (NASDAQ:AMPL) Issues Q3 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.000-0.010 for the period, compared to the consensus EPS estimate of 0.030. The company issued revenue guidance of $73.5 million-$74.5 million, compared to the consensus revenue estimate of $73.8 million. Amplitude also updated its FY 2024 guidance to 0.050-0.080 EPS.

Amplitude Price Performance

Amplitude stock traded down $0.03 during midday trading on Friday, reaching $7.95. 753,252 shares of the company traded hands, 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. The business has a 50 day moving average of $8.37 and a two-hundred day moving average of $10.13. Amplitude has a 12 month low of $7.37 and a 12 month high of $14.42.

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data 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). Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.98 million. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that Amplitude will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMPL. Robert W. Baird decreased their price target on shares of Amplitude from $12.00 to $10.00 and set a neutral rating on the stock in a research report on Friday. Piper Sandler decreased their price target on shares of Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, July 12th. UBS Group decreased their price target on shares of Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday. Finally, Morgan Stanley decreased their price target on shares of Amplitude from $10.00 to $9.00 and set an underweight rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Amplitude presently has a consensus rating of Hold and a consensus price target of $10.33.

Insider Activity

In other news, Director Catherine Wong sold 3,515 shares of the firm’s 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 in the company, valued at approximately $758,631.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.