Amplitude stock price target raised to $15 from $13 at BofA Securities

BofA Securities raised its price target on Amplitude Inc (NASDAQ:AMPL) to $15.00 from $13.00 on Monday, while maintaining a Buy rating on the digital analytics company’s stock. The stock currently trades at $11.37, having gained nearly 37% over the past year despite a recent 10.4% pullback last week.

The price target increase follows an investor meeting last week where Amplitude discussed its recent agentic AI product launch, the evolution of generative AI and related opportunities, and how the company is powering next-generation AI-powered digital experiences.

BofA Securities believes Amplitude’s differentiated platform positions it to gain market share long-term in what it estimates is a digital analytics total addressable market exceeding $50 billion.

The firm noted that continued execution improvements should help reduce Amplitude’s current 55% discount multiple compared to infrastructure software peers, which trade at 8.6x EV/CY26E revenues versus Amplitude’s 3.9x.

The new $15 price target is based on 5.0x EV/CY26E revenue, up from the previous 4.2x multiple, reflecting BofA’s increased confidence in Amplitude’s potential as a market share gainer in the digital analytics space.

In other recent news, Amplitude Inc. reported its Q1 2025 earnings, highlighting a revenue increase to $80 million, which marks a 10% year-over-year growth and slightly surpasses analyst forecasts. The company’s Annual Recurring Revenue (ARR) also saw a 12% increase, reaching $320 million. Amplitude’s earnings per share (EPS) aligned with market expectations at -$0.01. The company has been focusing on strategic product innovations, such as the new "Guides and Surveys" product, which has seen rapid adoption. In partnership news, Amplitude announced a strategic collaboration with Amazon (NASDAQ:AMZN) Web Services (AWS) to enhance customer experiences across various industries using Gen AI-powered insights. This partnership aims to address the challenge of organizations having vast amounts of data but lacking the ability to fully understand customer behavior. Analyst firm Needham maintained its Buy rating on Amplitude stock, expressing confidence in the company’s AI agents launch, which is expected to complement its existing platform. The collaboration with AWS and the launch of AI agents are seen as opportunities to drive future growth and market penetration for Amplitude.

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