Amplitude (NASDAQ:AMPL) Issues FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.040-0.060 for the period, compared to the consensus estimate of 0.060. The company issued revenue guidance of $297.1 million-$298.1 million, compared to the consensus revenue estimate of $295.8 million. Amplitude also updated its FY24 guidance to $0.04-$0.06 EPS.

Amplitude Trading Down 5.7 %

Shares of NASDAQ AMPL traded down $0.60 during midday trading on Friday, reaching $9.89. The company had a trading volume of 1,129,310 shares, compared to its average volume of 356,719. Amplitude has a 1 year low of $7.37 and a 1 year high of $14.42. The business’s 50-day simple moving average is $8.93 and its 200 day simple moving average is $8.83. The stock has a market cap of $1.22 billion, a P/E ratio of -14.54 and a beta of 1.31.

Amplitude (NASDAQ:AMPL) last issued its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.18). The firm had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.98 million. Amplitude had a negative return on equity of 27.58% and a negative net margin of 28.19%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) EPS. Analysts predict that Amplitude will post -0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler upped their target price on Amplitude from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday. Robert W. Baird upped their price objective on shares of Amplitude from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank increased their price objective on shares of Amplitude from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, UBS Group decreased their target price on shares of Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.00.

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.