13 Best Software Stocks to Buy Now

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11. Amplitude, Inc. (NASDAQ:AMPL)

1-Year Return as of June 16: 43.35%

Number of Hedge Fund Holders as of Q1 2025: 29

Amplitude, Inc. (NASDAQ:AMPL) is one of the 13 best software stocks to buy now. On June 16, BofA Securities raised its price target to $15 from $13 while reiterating a Buy rating on the stock. The adjustment follows an investor meeting where the company discussed its agentic AI product launch.

Amplitude also touted how it plans to power the next generation of AI-powered digital experiences. BofA remains confident in Amplitude’s differentiated platform, which positions it to gain market share in the long term. The research firm expects the company to capitalize on the digital analytics market valued at over $50 billion.

Continued execution improvements should allow Amplitude to reduce its 55% discount multiple compared to its peers in the industry. Strategic product advancements have been the company’s priority, as seen by the quick uptake of the new Guides and Surveys product. The remarks come on the company delivering a 10% year-over-year revenue growth in Q1 2025 to $80 million. Annual recurring revenue also recorded a 12% growth.

Amplitude, Inc. (NASDAQ:AMPL) is a digital analytics platform that helps companies understand customer behavior within their digital products. It provides tools and insights to analyze user engagement, identify patterns, and improve product design and performance.

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