Amplitude upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded Amplitude (AMPL) to Overweight from Sector Weight with a $15 price target Amplitudefits into the revenue acceleration plus margin expansion mold for 2025, but the firm feels it has not gotten the credit for it, despite having already seen the turn. ARR and dollar-based net retention both improved in Q3 over the prior quarter with ARR growth topping 9%, though consensus revenue growth for 2025 calls for a slowdown in revenue to 7.6%, the analyst tells investors in a research note. The firm added that it believes there is a mismatch to be exploited.