Piper Sandler analyst Brent A. Bracelin reiterated the Overweight rating on Amplitude, Inc. (NASDAQ:AMPL), raising the price forecast to $17 from $15.
The analyst has raised the price forecast, recommending it for small-cap growth investors due to leadership improvements, a new self-serve product driving strong growth, a promising new product cycle, and potential for cross-selling Command AI.
The company reported fourth-quarter results, where revenues increased 9% year over year.
Bracelin notes that while large deal contraction is still a factor, strong upmarket momentum with a revamped GTM and expanded product offerings is expected to drive sustained top-line growth.
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Enterprise customer growth accelerated to 16%, up from 13% last quarter, marking the third consecutive quarter of growth, fueled by a record number of enterprise landings.
The new Guides and Surveys were introduced just four months after the Command AI acquisition, with the potential to boost base analytics contracts by 20-50%, the analyst writes.
Per Bracelin, these additions complete the core AMPL platform, offering a unified solution to consolidate the fragmented market.
Multi-product momentum was strong, making up 67% of new large lands in Q4, highlighting the resonance of the Amplitude platform vision, the analyst adds.
Price Action: AMPL shares are trading higher by 20.6% to $14.29 at last check Thursday.
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