Chardan Capital Reaffirms Neutral Rating for Ambarella (AMBA)
Ambarella (NASDAQ:AMBA)‘s stock had its “neutral” rating reaffirmed by research analysts at Chardan Capital in a report released on Friday. They currently have a $35.00 price objective on the stock. Chardan Capital’s target price points to a potential downside of 2.23% from the stock’s previous close.
In other Ambarella news, Insider Leslie Kohn sold 20,000 shares of Ambarella stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.00, for a total value of $640,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Ambarella (NASDAQ:AMBA) opened at 35.77 on Friday. Ambarella has a 52-week low of $16.25 and a 52-week high of $36.72. The stock’s 50-day moving average is $30.5 and its 200-day moving average is $28.69. The company has a market cap of $1.045 billion and a P/E ratio of 41.92.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 4th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.09. The company had revenue of $47.00 million for the quarter, compared to the consensus estimate of $44.70 million. During the same quarter last year, the company posted $0.26 earnings per share. Ambarella’s revenue was up 24.7% compared to the same quarter last year. Analysts expect that Ambarella will post $1.17 EPS for the current fiscal year.
A number of other firms have also recently commented on AMBA. Analysts at Ascendiant Capital Markets raised their price target on shares of Ambarella to $42.00 in a research note on Friday. Separately, analysts at Topeka Capital Markets raised their price target on shares of Ambarella from $33.00 to $43.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Ambarella from $27.00 to $35.00 in a research note on Friday. They now have a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ambarella has a consensus rating of “Hold” and an average price target of $35.33.
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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