3 Reasons Amplitude Stock Is on the Rebound
Amplitude (NASDAQ: AMPL) stock popped on its second-quarter earnings report Thursday as the digital-optimization specialist delivered some of its best results since its went public nearly a year ago. The software as a service (SaaS) stock finished the session up 12.7% as it posted strong revenue growth and raised its guidance for the year. Among the highlights were:
Altogether, the results show that the company is outperforming expectations and managing well through a difficult macroeconomic environment. The quarter also puts the stock on track for a rebound after it plunged earlier this year when it cut its guidance for 2022.
The stock crashed in February after the company stepped back from its 2022 guidance of growing revenue by at least 40%. However, after 54% revenue growth in the first half of the year, 40% full-year growth seems very achievable. Amplitude's top-line guidance now calls for 40% growth at the midpoint, and that forecast is likely conservative as the company surely wants to avoid lowering or missing its forecast again.
Source Fool.com
