Shares of Amplitude, Inc. (AMPL) surged over 5% on Wednesday as analysts suggested the stock may be undervalued, presenting a potential buying opportunity for investors. According to a report from Simply Wall St, Amplitude's intrinsic value is estimated at $16.20, significantly higher than its current trading levels.

The report cited Amplitude's high volatility and attractive valuation as key factors for considering an investment in the company. However, analysts also cautioned about the risks associated with Amplitude, noting that the company is expected to experience negative profit growth of -1.5% in the coming year.

While the undervaluation thesis seems to have fueled buying interest in Amplitude's stock, the negative growth outlook tempers the enthusiasm somewhat. Investors will likely be closely watching for any further developments or updates from the company that could impact its growth trajectory.