Ambarella Lowered to “Hold” at Deutsche Bank (AMBA)
Ambarella (NASDAQ:AMBA) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $32.00 price objective on the stock, up from their previous price objective of $28.00. Deutsche Bank’s price objective points to a potential downside of 0.53% from the stock’s previous close.
AMBA has been the subject of a number of other recent research reports. Analysts at Needham & Company downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $32.00 price target on the stock. Finally, analysts at Chardan Capital raised their price target on shares of Ambarella from $20.00 to $24.00 in a research note to investors on Monday, December 9th. They now have a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.60.
Shares of Ambarella (NASDAQ:AMBA) traded down 8.89% during mid-day trading on Friday, hitting $29.31. 4,259,587 shares of the company’s stock traded hands. Ambarella has a 52 week low of $9.04 and a 52 week high of $36.49. The stock’s 50-day moving average is $27.31 and its 200-day moving average is $20.43. The company has a market cap of $826.9 million and a P/E ratio of 39.91.
Ambarella (NASDAQ:AMBA) last released its earnings data on Thursday, December 5th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.08. The company had revenue of $46.00 million for the quarter, compared to the consensus estimate of $43.98 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts expect that Ambarella will post $1.04 EPS for the current fiscal year.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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