How Amplitude Is Building Out Its Product Lineup
Software-as-a-service stocks may have fallen out of fashion during the tech crash this year, but long-term investors know that bear markets can be the best times to buy stocks as these discount prices will disappear when market sentiment shifts.
One under-the-radar cloud software stock investors should get to know is Amplitude (NASDAQ: AMPL), a leader in digital optimization, a growing field that uses data to improve and optimize digital products. Amplitude's technology has helped companies like Peloton lean into the social aspect of its classes and guided Burger King's "Whopper Detour" campaign, which offered a Whopper for a penny to anyone who downloaded the Burger King app near a McDonald's.
After going public last September through a direct listing, the stock plunged earlier this year when it cut its guidance in February, but Amplitude is still growing fast with revenue expected to increase about 40% this year. The stock also trades at a modest price-to-sales ratio of 7.5, giving investors a good entry point.
Source Fool.com
