In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Ambarella (AMBA – Research Report), with a price target of $100.00. The company’s shares opened today at $78.76.
According to TipRanks, Cassidy is a top 100 analyst with an average return of 20.3% and a 63.22% success rate. Cassidy covers the Technology sector, focusing on stocks such as Ambarella, Ouster, and Ceva.
Currently, the analyst consensus on Ambarella is a Moderate Buy with an average price target of $92.82.
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Based on Ambarella’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $83.1 million and a GAAP net loss of $19.81 million. In comparison, last year the company earned a revenue of $92.17 million and had a net profit of $756 thousand
Based on the recent corporate insider activity of 86 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. Last month, Christopher Day, the VP Marketing of AMBA sold 3,115.00 shares for a total of $255,608.64.
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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.
Read More on AMBA:
- Ambarella Expands CV3 Family of Automotive AI Domain Controllers With New CV3-AD685
- Ambarella, Kodiak Robotics announce integration partnership for CV2AQ AI SoC
- Kodiak Robotics Equips Autonomous Trucks With Ambarella AI System-on-Chip
- Ambarella, Autobrains and Seeing Machines to offer three safety systems in one
- Seeing Machines, Ambarella and Autobrains Offer Combined Front ADAS and Driver Monitoring Solution in Single Box, Using Single System-on-Chip