Amplitude (NASDAQ:AMPL) Releases FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.070-0.090 for the period, compared to the consensus EPS estimate of 0.090. The company issued revenue guidance of $292.5 million-$295.5 million, compared to the consensus revenue estimate of $293.1 million. Amplitude also updated its FY24 guidance to $0.07-$0.09 EPS.

Amplitude Trading Down 1.9 %

NASDAQ AMPL opened at $9.26 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36. The company has a 50 day moving average of $10.46 and a 200-day moving average of $11.47. Amplitude has a 1-year low of $8.50 and a 1-year high of $14.42.

Amplitude (NASDAQ:AMPL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $71.40 million during the quarter, compared to the consensus estimate of $71.56 million. Amplitude had a negative net margin of 32.71% and a negative return on equity of 27.73%. On average, analysts forecast that Amplitude will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMPL shares. Piper Sandler restated a neutral rating and set a $11.00 price objective on shares of Amplitude in a research note on Wednesday, February 21st. Scotiabank lowered shares of Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target on the stock. in a research note on Wednesday, February 21st. Citigroup decreased their price target on shares of Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Morgan Stanley decreased their price target on shares of Amplitude from $12.00 to $10.00 and set an underweight rating on the stock in a research note 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 on the stock. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $11.50.

Insider Buying and Selling at Amplitude

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $11.97, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.