Amplitude price target lowered to $13 from $14 at Citi

Citi lowered the firm’s price target on Amplitude to $13 from $14 and keeps a Neutral rating on the shares. The company reported an “underwhelming finish to a challenging 2023” with a slight revenue miss and a weaker 2024 revenue and profitability outlook, the analyst tells investors in a research note. The firm says the persisting churn amid appears to be broader stabilization in consumption models may suggest challenges with Amplitude’s product market fit in the current environment.