Amplitude stretches gains as Wall Street starts coverage
25/10/2021 16:12
** Amplitude Inc's AMPL.O stock rises 7% to fresh peak of
$72.12 on Mon as digital optimization software provider extends
winning streak to 10 sessions
** San Francisco-based firm's shares on Sept 28 opened at
$50 in its direct Nasdaq listing urn:newsml:reuters.com:*:nL1N2QU0PI urn:newsml:reuters.com:*:nL4N2QU3II
** UBS initiates at 'buy' with $78 PT, saying digital
optimization space appears to be on "brink of an inflection"
given acceleration in engagement and use of websites/apps amid
the pandemic
** Secular tailwind could support +40% topline growth for
AMPL over next couple of years and +30% thereafter, UBS says
** BofA Global Research starts at 'neutral' with $75 price
objective
** AMPL operating in estimated $36 bln market "ripe for
disruption" and should create a "long runway" for the business
to drive healthy growth, BofA says
** KeyBanc starts at 'overweight' with $78 PT
** Given "strong" 57% 2021 estimated revenue growth and
leadership of the emerging product analytics segment, KeyBanc
views stock's valuation attractive at 37.1x EV/2022 revenue
** With move on Mon, AMPL has approx $7.2 bln market cap,
per Refinitiv data
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))