Analysis: Ambarella Corporation (NASDAQ:AMBA) Stock Target Raised Today
In an analyst note disseminated by FBN on Friday, 4 December, the firm, Ambarella Corporation (NASDAQ:AMBA), had their target price lowered to $70.00. Analusts now have a solid “Outperform” rating on the stock.
From a total of 9 analysts covering Ambarella Corporation (NASDAQ:AMBA) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 54% of the ratings are positive. The highest target price is $92 while the lowest target price is $60. The mean of all analyst targets is $77.33 with a 58.14% above today’s ($56.93) stock price. Ambarella Corporation was the topic of 30 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. FBN Securities maintained shares on December 4 with “Outperform” rating. KeyBanc Capital Markets maintained shares with “Overweight” rating and $102 target share price in a report from a September 29. Stifel Nicolaus maintained AMBA stock in a recent report from December 4 with “Buy” rating. Ladenburg Thalmann initiated the rating on September 10. Ladenburg Thalmann has a “Buy” rating and a $96 price target on shares. Finally, Pacific Crest maintained the stock with “Overweight” rating in a report issued on a November 23.
The stock decreased 1.64% or $0.95 on December 4, striking $56.93. Approximately shares of stock traded hands. Ambarella Inc (NASDAQ:AMBA) has declined 24.50% since May 4, 2015 and is downtrending. It has underperformed by 23.42% the S&P500.
Ambarella, Inc. is a developer of semiconductor processing solutions for video that enable high-definition , video capture, sharing and display. The company has a market cap of $1.83 billion. The Company’s system-on-a-chip (SoC) creates HD video processing, image processing, audio processing and system functions onto a single chip, delivering video and image. It has 24.28 P/E ratio. In the camera market, its platform enables the creation of high-quality video content in wearable sports cameras, automotive aftermarket cameras, professional and consumer Internet Protocol (IP), security cameras, telepresence cameras and unmanned aerial vehicles (UAVs).
According to Zacks Investment Research, “Ambarella, Inc. develops video compression and image processing semiconductors. The Company’s products are used in digital still cameras, digital camcorders, and video-enabled mobile phones. Ambarella sells its solutions to original design manufacturers and original equipment manufacturers. Its technology is also used in television broadcasting infrastructure systems. Ambarella, Inc. is headquartered in Santa Clara, California.” Get a free copy of the Zacks research report on Ambarella Inc (AMBA).