Amplitude (NASDAQ:AMPL) Updates FY 2024 Earnings Guidance

Amplitude (NASDAQ:AMPL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.040-0.060 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

A number of analysts recently commented on AMPL shares. UBS Group dropped their price objective on Amplitude from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Robert W. Baird dropped their target price on shares of Amplitude from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler cut their price target on Amplitude from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.33.

Amplitude Trading Up 5.2 %

Shares of AMPL stock traded up $0.52 on Thursday, hitting $10.49. The stock had a trading volume of 825,173 shares, compared to its average volume of 517,142. The firm has a market cap of $1.30 billion, a P/E ratio of -15.43 and a beta of 1.31. Amplitude has a twelve month low of $7.37 and a twelve month high of $14.42. The company has a fifty day moving average price of $8.88 and a two-hundred day moving average price of $8.82.

Amplitude (NASDAQ:AMPL) last posted 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 business had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.98 million. Amplitude had a negative net margin of 28.19% and a negative return on equity of 27.58%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, analysts expect that Amplitude will post -0.65 earnings per share for the current year.

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.