The Fly

Ambarella price target lowered to $85 from $90 at Needham

Needham analyst N. Quinn Bolton lowered the firm’s price target on Ambarella to $85 from $90 but keeps a Buy rating on the shares. The analyst notes the company’s worse than expected Q4 guidance, though he also notes that the management believes that the worst of supply constraints are likely in the past and continued alleviation is releasing pent-up demand.

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