In a report released today, Robert Oliver from Robert W. Baird upgraded Amplitude (AMPL – Research Report) to a Buy, with a price target of $17.00.
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Robert Oliver’s rating is based on several compelling factors that highlight Amplitude’s potential for growth. The company showcased a robust performance in the fourth quarter of 2024, exceeding revenue expectations and providing guidance for 2025 that surpasses market predictions. This positive outlook is supported by enhancements in their product and platform offerings, as well as strategic go-to-market changes that bolster confidence in Amplitude’s ability to accelerate growth.
Additionally, Amplitude has made significant strides in product development, transitioning into a multi-product company with notable acquisitions and launches that enhance its market appeal. The internal alignment between management, sales, and marketing teams has also improved, paving the way for strategic focus on key accounts. With a favorable competitive environment and a solid foundation for cross-selling opportunities, Oliver believes Amplitude is well-positioned to capitalize on market growth, justifying the Buy rating.