Amplitude (NASDAQ:AMPL) Releases Q2 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its second quarter earnings guidance on Friday. 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 $72.00 million. Amplitude also updated its FY24 guidance to $0.07-0.09 EPS.

Analyst Upgrades and Downgrades

Several research firms have commented on AMPL. Scotiabank cut shares of Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 21st. Citigroup cut their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. KeyCorp began coverage on Amplitude in a research report on Thursday, March 21st. They set a sector weight rating for the company. UBS Group lowered their target price on Amplitude from $13.00 to $11.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley decreased their price objective on shares of Amplitude from $10.00 to $9.00 and set an underweight rating for the company in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $11.20.

Amplitude Trading Up 3.4 %

AMPL stock traded up $0.32 during midday trading on Friday, hitting $9.75. The company had a trading volume of 2,865,552 shares, compared to its average volume of 467,450. Amplitude has a 52 week low of $8.76 and a 52 week high of $14.42. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -13.36 and a beta of 1.36. The stock’s 50 day moving average price is $10.10 and its 200 day moving average price is $11.42.

Amplitude (NASDAQ:AMPL) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.56 million. Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.15%. Analysts predict that Amplitude will post -0.61 earnings per share for the current year.

Insider Activity at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 82,820 shares in the company, valued at approximately $758,631.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 28.71% of the stock is owned by corporate 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.