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 Trading Up 3.4 %

Shares of AMPL traded up $0.32 during midday trading on Friday, reaching $9.75. 2,865,552 shares of the stock were exchanged, 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 company’s 50 day moving average is $10.10 and its two-hundred day moving average is $11.42. The company has a market capitalization of $1.19 billion, a P/E ratio of -13.36 and a beta of 1.36.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup lowered their price target 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 price objective on shares of Amplitude in a research report on Wednesday, February 21st. KeyCorp assumed coverage on Amplitude in a research note on Thursday, March 21st. They issued a sector weight rating on the stock. UBS Group lowered their price target 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, Scotiabank lowered 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $11.20.

Insider Activity at Amplitude

In related news, Director Catherine Wong sold 3,515 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 82,820 shares of the company’s stock, valued at approximately $758,631.20. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.