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Equities research analysts at Ascendiant Capital Markets assumed coverage on shares of Ambarella (NASDAQ:AMBA) in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Ambarella (NASDAQ:AMBA) opened at 24.05 on Monday. Ambarella has a one year low of $13.16 and a one year high of $36.49. The stock’s 50-day moving average is $25.63 and its 200-day moving average is $27.3. The company has a market cap of $691.4 million and a P/E ratio of 27.89.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.07. The company had revenue of $40.00 million for the quarter, compared to the consensus estimate of $38.14 million. During the same quarter last year, the company posted $0.18 earnings per share. Ambarella’s revenue was up 27.0% compared to the same quarter last year. On average, analysts predict that Ambarella will post $1.13 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on AMBA. Analysts at Dougherty & Co upgraded shares of Ambarella from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $35.00 price target on the stock. Separately, analysts at Topeka Capital Markets initiated coverage on shares of Ambarella in a research note on Monday, March 24th. They set a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Ambarella from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $37.80 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.54.

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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