Amplitude (NASDAQ:AMPL) Releases Q2 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $(0.02)-(0.01) for the period, compared to the consensus estimate of ($0.01). The company issued revenue guidance of $71.7-72.3 million, compared to the consensus revenue estimate of $72.00 million. Amplitude also updated its FY24 guidance to $0.07-0.09 EPS.

Amplitude Stock Up 3.4 %

Shares of NASDAQ:AMPL opened at $9.75 on Friday. Amplitude has a 52 week low of $8.76 and a 52 week high of $14.42. The business has a fifty day simple moving average of $10.08 and a 200-day simple moving average of $11.41.

Analysts Set New Price Targets

AMPL has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Amplitude from $13.00 to $11.00 and set a neutral rating for the company in a research report on Friday, May 10th. Citigroup lowered their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Morgan Stanley lowered their price objective on Amplitude from $10.00 to $9.00 and set an underweight rating for the company in a research report on Friday, May 10th. Scotiabank cut Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 target price on the stock. in a report on Wednesday, February 21st. Finally, Piper Sandler reiterated a neutral rating and issued a $11.00 target price on shares of Amplitude in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $11.20.

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of Amplitude stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.16, for a total value of $32,197.40. Following the transaction, the director now owns 82,820 shares in the company, valued at $758,631.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.71% of the stock is owned by 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.