Amplitude (NASDAQ:AMPL) Releases Q2 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.02)-($0.01) for the period, compared to the consensus earnings per share estimate of $0.01. The company issued revenue guidance of $71.7-$72.3 million, compared to the consensus revenue estimate of $71.53 million. Amplitude also updated its FY24 guidance to $0.07-$0.09 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMPL. Morgan Stanley dropped their price objective on shares of Amplitude from $12.00 to $10.00 and set an underweight rating on the stock in a report on Wednesday, April 17th. Scotiabank lowered Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price target on the stock. in a report on Wednesday, February 21st. Citigroup decreased their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Piper Sandler restated a neutral rating and issued a $11.00 target price on shares of Amplitude in a research note on Wednesday, February 21st. Finally, KeyCorp initiated coverage on shares of Amplitude in a 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 assigned a hold rating to the stock. Based on data from MarketBeat.com, Amplitude has a consensus rating of Hold and an average target price of $11.50.

Amplitude Price Performance

AMPL stock traded down $0.18 during mid-day trading on Thursday, reaching $9.26. The company had a trading volume of 649,791 shares, compared to its average volume of 423,236. Amplitude has a 52 week low of $8.50 and a 52 week high of $14.42. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -12.10 and a beta of 1.36. The stock has a 50 day simple moving average of $10.51 and a two-hundred day simple moving average of $11.49.

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

Insider Activity

In other Amplitude news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $11.97, for a total value of $42,074.55. Following the transaction, the director now directly owns 86,335 shares in the company, valued at $1,033,429.95. The transaction was disclosed in a filing with the SEC, which is available 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.