Data analytics software provider Amplitude (NASDAQ:AMPL) will be announcing earnings results tomorrow after the bell. Here's what to expect.
Last quarter Amplitude reported revenues of $58.1 million, up 48% year on year, beating analyst revenue expectations by 5.34%. It was a strong quarter for the company, with an exceptional revenue growth and a solid beat of analyst estimates. The company added 135 customers to a total of 1,836.
Is Amplitude buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Amplitude's revenue to grow 32.3% year on year to $60.1 million, slowing down from the 72.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time since going public on average by 4.87%.
With Amplitude being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for software stocks, but investors in the segment have had steady hands going into the earnings, with the stocks up on average 1.66% over the last month. Amplitude is up 5.46% during the same time, and is heading into the earnings with analyst price target of $21.00, compared to share price of $16.8.
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The author has no position in any of the stocks mentioned.