3 Reasons to Buy This Overlooked Cloud Software Stock Now
Small-cap software stock Amplitude (NASDAQ: AMPL) took a dive after its recent earnings report, falling 14%.
Despite the double-digit sell-off, there was nothing particularly concerning in the report. The company actually beat estimates on the top and bottom lines in the fourth quarter, but guidance was a bit on the light side. Management sees revenue of $283 million-$291 million in 2023, representing 19% to 22% growth.
Amplitude specializes in digital optimization, or helping businesses maximize the potential of their customer-facing apps and digital interfaces. It provides a suite of product analytics that help businesses gain insights they wouldn't otherwise have, improving ROI. For example, Peloton worked with Amplitude to determine that social interaction was key to member engagement and retention.
Source Fool.com
