Amplitude price target lowered to $12 from $13 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter lowered the firm’s price target on Amplitude to $12 from $13 and keeps an Equal Weight rating on the shares. The firm models to the midpoint of management guidance in Q4 and its ARR forecast has come down by 2% and 9% in FY24 and FY25, respectively, as management maintains a cautious outlook, the analyst tells investors.