Morgan Stanley Upgrades Amplitude Inc (AMPL) to Overweight

Morgan Stanley analyst Elizabeth Porter upgraded Amplitude Inc (NASDAQ: AMPL) from Equalweight to Overweight with a price target of $16.00 (from $14.00).

The analyst comments: "We upgrade AMPL to Overweight from Equal-weight the company stands to benefit from capturing higher amounts of digital product user behavior data as GenAI accelerates development of digital products like mobile and web applications. Further, (1) optimization headwinds from Covid-era contracts are worked through while tailwinds from broader digital product development are emerging, enabling a cleaner expansion story; 2) multi-product adoption has a long runway to drive growth where Agents (while early) present an opportunity to better tie the portfolio and drive multi-product adoption; 3) relatively conservative outlook from Street and reasonable valuation with no seat-based model overhang presents upside to shares. Our price target increases to $16 from $14 previously, reflecting ~50% upside to recent trading and a 0.31x EV/S/G multiple, largely in- line with digital enablement and data infrastructure peers."

For an analyst ratings summary and ratings history on Amplitude Inc click here. For more ratings news on Amplitude Inc click here.

Shares of Amplitude Inc closed at $10.23 yesterday.

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