Scott Berg, an analyst from Needham, maintained the Buy rating on Amplitude. The associated price target remains the same with $16.00.
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Scott Berg has given his Buy rating due to a combination of factors surrounding Amplitude’s strategic acquisition of Kraftful. This acquisition is seen as a positive move as it enhances Amplitude’s platform by integrating Kraftful’s voice of the customer solution, which transforms user feedback from social media into actionable insights for product teams.
The acquisition is primarily focused on acquiring both the technology and the team, which is expected to bolster Amplitude’s AI capabilities. Furthermore, this move is likened to Amplitude’s previous acquisition of Command AI, which successfully created new cross-selling opportunities, indicating a promising outlook for future growth.