Amplitude price target lowered to $11 from $13 at UBS

UBS lowered the firm’s price target on Amplitude (AMPL) to $11 from $13 and keeps a Neutral rating on the shares. Amplitude’s net new annual recurring revenue grew for the third quarter in a row, and UBS believes Amplitude is being prudent in light of uncertainty, and absent a material slowdown in the macro, the Q1 performance would suggest an acceleration to mid-teens is “doable” this year, the analyst tells investors in a research note.