Raymond James set a $10 price target, arguing that the company is poised for a period of growth acceleration and margin expansion. According to the firm, Amplitude’s platform advantages and new artificial-intelligence opportunities provide a clear runway for recovery. The analysts contend that the market has unfairly punished the stock, driven by unfounded fears regarding AI software displacement and internal execution concerns.

Looking toward 2026, the analysts acknowledged potential complexities involving restructuring and AI monetization. However, they remain optimistic that conservative financial estimates will lead to upward revisions through fiscal year 2027. They noted that the current valuation implies a worst-case scenario that appears unlikely, provided the company maintains its relevance through its behavioral data foundation in the expanding agentic software era.