Amplitude (NASDAQ:AMPL) Updates FY24 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.05-$0.08 for the period, compared to the consensus earnings per share 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 Trading Down 0.4 %

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

Amplitude (NASDAQ:AMPL) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate 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 business had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. During the same period in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts predict that Amplitude will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMPL has been the topic of several research reports. Robert W. Baird decreased their target price on Amplitude from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Friday. UBS Group decreased their target price on Amplitude from $11.00 to $9.00 and set a neutral rating on the stock in a research note on Friday. Morgan Stanley decreased their target price on Amplitude from $10.00 to $9.00 and set an underweight rating on the stock in a research note on Friday, May 10th. Finally, Piper Sandler decreased their target price on 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 stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.33.

Insiders Place Their Bets

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $9.16, for a total transaction of $32,197.40. Following the sale, the director now owns 82,820 shares in the company, valued at approximately $758,631.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 28.71% of the stock is owned by company insiders.

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.