Analysts See Up To 13% Upside In Amplitude - Amplitude (NASDAQ:AMPL)

Analysts initiated coverage on Amplitude Inc AMPL, with price targets implying upsides up to 13%.
KeyBanc analyst Michael Turits initiated coverage with an Overweight rating and a $78 PT, implying a 13% upside.
The company is "riding the wave of digital transformation" accelerated by COVID, Turits notes.
The analyst sees Amplitude as "strongly positioned amid the ongoing wave" of front office digital transformation and adoption of product-led growth models.
UBS analyst Taylor McGinnis initiated coverage with a Buy rating and $78 PT.
The company is the clear leader in an early-stage and predominately greenfield market it refers to as digital optimization, McGinnis notes.
The analyst says the space "appears to be on the brink of an inflection" given the acceleration in engagement and use of websites/apps amid the pandemic.
Amplitude seems well-positioned to capitalize "on an opportunity with plenty of runway ahead," says McGinnis.
BofA analyst Koji Ikeda initiated coverage with a Neutral rating and a $75 PT, implying an 8.8% upside.
The company is a "leader" in the digital optimization opportunity as organizations leverage its platform to understand how consumers use digital products to drive better customer experiences, the analyst tells investors in a research note.
Amplitude operates in a $36 billion market that is "ripe for disruption," giving it a long runway toward healthy growth, Ikeda adds.
Morgan Stanley analyst Elizabeth Elliott initiated coverage with an Equal Weight rating and $72 PT, suggesting a 4.4% upside.
With solutions built to accelerate digital product development, Amplitude looks to pioneer a potential $37 billion digital optimization market, Elliott notes.
However, the analyst says the higher investment necessary to address this "greenfield" total addressable market implies a balanced risk/reward at current share levels.
Baird analyst Rob Oliver initiated coverage with a Neutral rating and $70 PT, indicating a 1.5% upside.
The company's "best-in-class" software measures millions of input signals real-time, empowering customers to deliver digital products with "that extra push" of higher customer satisfaction and revenue, Oliver notes.
However, with the stock up 90% from the direct-listing and a valuation more significant than 30 times 2022 revenue estimates, the analyst starts Amplitude with a Neutral rating.
William Blair analyst Bhavan Suri initiated coverage with an Outperform rating.
Price Action: AMPL shares closed higher by 2.28% at $68.95 on Monday.

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