Amplitude (NASDAQ:AMPL) Updates FY24 Earnings Guidance

Amplitude (NASDAQ:AMPLGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.07-$0.09 for the period, compared to the consensus earnings per share estimate of $0.09. The company issued revenue guidance of $292.5-$295.5 million, compared to the consensus revenue estimate of $293.13 million. Amplitude also updated its FY 2024 guidance to 0.070-0.090 EPS.

Amplitude Stock Performance

Shares of NASDAQ AMPL traded down $0.14 during mid-day trading on Friday, hitting $9.12. The stock had a trading volume of 895,789 shares, compared to its average volume of 315,167. The company has a 50 day moving average of $10.42 and a two-hundred day moving average of $11.47. Amplitude has a twelve month low of $8.50 and a twelve month high of $14.42. The firm has a market cap of $1.10 billion, a PE ratio of -12.49 and a beta of 1.36.

Amplitude (NASDAQ:AMPLGet Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Amplitude had a negative net margin of 30.28% and a negative return on equity of 26.09%. The firm had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.56 million. Equities research analysts predict that Amplitude will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

AMPL has been the topic of several recent analyst reports. KeyCorp initiated coverage on shares of Amplitude in a research note on Thursday, March 21st. They set a sector weight rating on the stock. Piper Sandler reaffirmed a neutral rating and set a $11.00 target price on shares of Amplitude in a research note on Wednesday, February 21st. UBS Group decreased their target price on shares of Amplitude from $13.00 to $11.00 and set a neutral rating on the stock in a research note on Friday. Citigroup dropped their price target on Amplitude from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, Scotiabank downgraded Amplitude from a sector outperform rating to a sector perform rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $11.20.

Check Out Our Latest Report on Amplitude

Insider Buying and Selling at Amplitude

In other news, Director Catherine Wong sold 3,515 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $11.97, for a total transaction of $42,074.55. Following the completion of the sale, the director now owns 86,335 shares in the company, valued at approximately $1,033,429.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.71% of the stock is currently owned by company insiders.

Amplitude Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Amplitude (NASDAQ:AMPL)

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