Shares of Ambarella, Inc. (NASDAQ:AMBA) have garnered a “Moderate Buy” recommendation from eleven ratings firms, according to Marketbeat.com. Out of the eleven analysts covering the company, one has given a sell rating, three have issued a hold rating, and seven have assigned a buy rating. The average 12-month price objective among these analysts is $75.00.
Several investment firms have recently released reports on Ambarella. Westpark Capital reaffirmed their “buy” rating and set a price objective of $85.00 on August 26th. Craig Hallum raised their target price from $80.00 to $85.00 and also gave the company a “buy” rating on August 28th. Needham & Company LLC reiterated a “buy” rating with a price target of $90.00 on the same day. Roth Mkm maintained a “neutral” rating and a $60.00 price objective on August 28th. Lastly, Morgan Stanley increased their target price from $67.00 to $73.00 and assigned an “overweight” rating on August 28th.
Institutional investors have also shown interest in Ambarella. Meeder Asset Management Inc. recently acquired a new stake in the company valued at approximately $26,000. CWM LLC increased their stake by 127.7% during the second quarter, owning 542 shares valued at $29,000. Van ECK Associates Corp raised their position by 62.1% to 1,441 shares worth $78,000. Larson Financial Group LLC saw a significant increase of 13,576.9% in their holdings, now owning 1,778 shares valued at $90,000. Northwestern Mutual Wealth Management Co. also boosted their holdings by 22.0% during the second quarter, now owning 3,275 shares worth $177,000. Institutional investors and hedge funds currently hold 82.09% of Ambarella’s stock.
Ambarella’s stock performance on NASDAQ opened at $57.17 on Tuesday. The company’s fifty-day moving average is $51.44, while the two-hundred-day moving average is $51.55. With a market capitalization of $2.34 billion, Ambarella has a P/E ratio of -13.42 and a beta of 1.63. The stock’s 52-week range is $39.69 to $65.88.
On August 27th, Ambarella reported earnings for the quarter, beating analysts’ consensus estimates. The company posted earnings per share of ($0.13), surpassing the estimated ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company generated $63.70 million in revenue for the quarter, slightly higher than the consensus estimate of $62.10 million. Compared to the same quarter last year, Ambarella’s revenue increased by 2.6%. Analysts predict that Ambarella will post a loss of $3 per share for the current year.
