Digital analytics platform Amplitude (NASDAQ: AMPL) will be reporting results this Wednesday after market hours. Here’s what investors should know.
Amplitude beat analysts’ revenue expectations last quarter, reporting revenues of $91.43 million, up 17% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and EPS guidance for next quarter missing analysts’ expectations significantly. It added 45 enterprise customers paying more than $100,000 annually to reach a total of 698.
Is Amplitude a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Amplitude’s revenue to grow 16.2% year on year, improving from the 10.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amplitude has a history of exceeding Wall Street’s expectations.
Looking at Amplitude’s peers in the data and analytics software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 84.7%, beating analysts’ expectations by 6.1%, and Commvault reported revenues up 13.3%, topping estimates by 1.6%. Commvault traded up 14.4% following the results.
Read our full analysis of Palantir Technologies’s results here and Commvault’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 11.6% on average over the last month. Amplitude is up 18.4% during the same time and is heading into earnings with an average analyst price target of $11.40 (compared to the current share price of $8.08).
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