Analyst Scott Berg from Needham maintained a Buy rating on Amplitude and keeping the price target at $18.00.
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Scott Berg’s rating is based on Amplitude’s strong financial performance and strategic advancements. The company reported a quarter with revenue exceeding expectations by 6.4% and an operating margin that surpassed forecasts, indicating robust financial health. Additionally, Amplitude’s annual recurring revenue (ARR) growth is accelerating, with a 15.8% year-over-year increase, suggesting that the company’s target of over 20% growth is becoming more achievable.
Moreover, Amplitude’s innovative efforts, particularly in AI functionality, are enhancing its platform’s appeal and driving adoption. This innovation not only differentiates Amplitude in the market but also strengthens its ability to attract new enterprise clients and retain existing ones. The combination of strong execution, accelerating innovation, and a promising growth trajectory underpins Scott Berg’s Buy rating for Amplitude.
In another report released on October 31, UBS also upgraded the stock to a Buy with a $13.00 price target.