Amplitude price target lowered to $10 from $12 at Piper Sandler

Piper Sandler lowered the firm’s price target on Amplitude (AMPL) to $10 from $12 and keeps an Overweight rating on the shares. The firm notes the company delivered Q4 revenue 2% above the midpoint and guided FY26 revenue to 15% year-over-year growth, above consensus of 14% and implying a year-over-year acceleration. Piper thinks Amplitude’s quarter was a continuation of solid upmarket execution, increased product velocity, and product momentum, and remains encouraged by the traction with AI-native customers.