During the #1 product and growth conference Amplify 2022 in Las Vegas, Amplitude (AMPL US) introduced the Customer Data Platform (CDP) with integrated product analytics.
The company expanded partner integration with Snowflake Inc (SNOW US) to improve data connectivity while Amplitude Experiment sees strong traction with customers.
With shares down ~65% YTD, Amplitude has underperformed the Nasdaq Composite (-23%). Our PT is $28.00, implying ~14x EV/2022E revenue and ~10x EV/2023E revenue.
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