Needham Keeps Their Buy Rating on Ambarella (AMBA)

Needham analyst Quinn Bolton maintained a Buy rating on Ambarella (AMBAResearch Report) today and set a price target of $85.00. The company’s shares closed yesterday at $73.93.

According to TipRanks, Bolton is a top 25 analyst with an average return of 36.6% and a 69.16% success rate. Bolton covers the Technology sector, focusing on stocks such as Rigetti Computing, Intel, and Marvell.

Ambarella has an analyst consensus of Strong Buy, with a price target consensus of $97.25, a 31.54% upside from current levels. In a report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $100.00 price target.

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The company has a one-year high of $224.86 and a one-year low of $49.02. Currently, Ambarella has an average volume of 551.5K.

Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMBA in relation to earlier this year. Most recently, in October 2022, Christopher Paisley, a Director at AMBA bought 1,555.00 shares for a total of $60,520.60.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ambarella, Inc. engages in the development and sale of video compression and image processing solutions. Its products include wearable cameras, flying cameras, and automotive video processing solutions. The company was founded by Feng Ming Wang and Leslie D. Kohn on January 15, 2004 and is headquartered in Santa Clara, CA.

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