Citi analyst Tyler Radke has maintained their neutral stance on AMPL stock, giving a Hold rating on February 20.
Tyler Radke’s rating is based on Amplitude’s recent performance and growth potential. The company delivered its strongest earnings beat in seven quarters during Q4, with revenue reaching $78.1 million, surpassing consensus expectations. Amplitude also showed progress in annual recurring revenue (ARR) growth and net new annual recurring revenue (NNARR), indicating positive signs in its business expansion efforts.
However, despite these positive developments, Radke remains cautious. He would prefer to see consistent improvements in gross retention rates (GRR) and net retention rates (NRR) before becoming more optimistic about the company’s reacceleration prospects. Additionally, while Amplitude has made strides with multi-product deals, the overall attachment rate for non-analytics products remains relatively low. These factors contribute to his decision to maintain a Hold rating, reflecting a balanced view of the company’s current position and future opportunities.
In another report released on February 20, Scotiabank also maintained a Hold rating on the stock with a $12.00 price target.