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Ambarella (NASDAQ:AMBA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, AmericanBankingNews.com reports. The firm currently has a $29.80 price objective on the stock. Zacks‘ target price would suggest a potential upside of 6.01% from the stock’s previous close.

A number of other analysts have also recently weighed in on AMBA. Analysts at Dougherty & Co initiated coverage on shares of Ambarella in a research note to investors on Tuesday, January 21st. They set a “neutral” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Ambarella from $27.00 to $34.00 in a research note to investors on Monday, January 13th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. They now have a $32.00 price target on the stock, up previously from $28.00. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Ambarella has an average rating of “Hold” and an average target price of $28.30.

Shares of Ambarella (NASDAQ:AMBA) traded up 3.08% during mid-day trading on Monday, hitting $28.11. The stock had a trading volume of 1,485,764 shares. 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 $31.10 and its 200-day moving average is $22.32. The company has a market cap of $793.0 million and a price-to-earnings ratio of 33.83.

Ambarella (NASDAQ:AMBA) last announced its earnings results 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 prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. On average, analysts predict that Ambarella will post $1.04 earnings per share 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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