Morgan Stanley Upgrades Amplitude (AMPL) to Overweight, Raises PT to $16

Amplitude Inc. (NASDAQ:AMPL) is one of the best small cap tech stocks to invest in now. On January 15, Morgan Stanley upgraded Amplitude to Overweight from Equal Weight, while raising its price target to $16 from a previous target of $14.

The firm believes that the company is well-positioned to capitalize on the surge of digital product user behavior data driven by generative AI’s acceleration of mobile and web application development. Additionally, the firm noted that Amplitude’s shares trade at a reasonable valuation and lack the seat-based model overhang seen elsewhere in the sector, which supports further upside potential.

Earlier on December 19, Baird increased its price target for Amplitude Inc. (NASDAQ:AMPL) to $15 from $14 while maintaining an Outperform rating. This revision followed an updated financial model informed by recent meetings with the company’s management team.

Amplitude Inc. (NASDAQ:AMPL), together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the US and internationally.

While we acknowledge the potential of AMPL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMPL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.