Amplitude (NASDAQ:AMPL) Issues 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank downgraded Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 21st. Citigroup reduced their target price on Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Morgan Stanley reduced their target price on Amplitude from $12.00 to $10.00 and set an underweight rating on the stock in a research report on Wednesday, April 17th. Piper Sandler restated a neutral rating and issued a $11.00 target price on shares of Amplitude in a research report on Wednesday, February 21st. Finally, KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They issued a sector weight rating on the stock. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Amplitude currently has a consensus rating of Hold and an average target price of $11.50.

Amplitude Trading Down 1.9 %

Shares of NASDAQ AMPL opened at $9.26 on Friday. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42. The stock has a fifty day simple moving average of $10.46 and a 200-day simple moving average of $11.47. The stock has a market capitalization of $1.12 billion, a PE ratio of -11.87 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last released its earnings results on Tuesday, February 20th. The company reported ($0.16) 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 analyst estimates of $71.56 million. On average, equities analysts predict that Amplitude will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Catherine Wong sold 3,515 shares of the business’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 transaction, the director now directly owns 86,335 shares of the company’s stock, valued at approximately $1,033,429.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.71% of the stock is currently 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.