Amplitude (NASDAQ:AMPL) Releases Q2 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.020–0.010 for the period, compared to the consensus 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 brokerages recently weighed in on AMPL. KeyCorp started coverage on Amplitude in a report on Thursday, March 21st. They issued a sector weight rating on the stock. Morgan Stanley reduced their price objective on Amplitude from $12.00 to $10.00 and set an underweight rating on the stock in a research note on Wednesday, April 17th. Citigroup reduced their price objective on Amplitude from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Scotiabank cut Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price objective on the stock. in a research note on Wednesday, February 21st. Finally, 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. One 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, the company has a consensus rating of Hold and a consensus target price of $11.50.

Amplitude Stock Performance

NASDAQ:AMPL opened at $9.26 on Friday. Amplitude has a one year low of $8.50 and a one year high of $14.42. The business’s 50-day simple moving average is $10.46 and its 200 day simple moving average is $11.47. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -11.87 and a beta of 1.36.

Amplitude (NASDAQ:AMPL) last released its quarterly 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 business had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.56 million. On average, equities research analysts predict that Amplitude will post -0.62 EPS 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 dated Friday, February 23rd. The stock was 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 directly owns 86,335 shares of the company’s stock, valued at $1,033,429.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 28.71% of the company’s stock.

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.