Ambarella Inc (NASDAQ:AMBA) shares are soaring nearly 18% in Friday’s trading session, after the video chip maker reported solid fiscal third-quarter results. Specifically, the company posted EPS of $0.75 on revenue of $89.1 million, beating consensus estimates of $0.67 and $89 million, respectively. In addition, Ambarella forecast F4Q18 revenue of $68-72 million, compared to consensus estimates of $70 million.
Overall, Wall Street is pretty evenly split between the bulls and bears. According to TipRanks analytics, based on 6 analysts polled in the past 3 months, 3 rate a Buy on AMBA stock, while 3 rate the stock a Hold. The 12-month average price target stands at $63, marking a nearly 16% upside from where the stock is currently trading.
Every day, Wall Street analysts upgrade some stocks, downgrade others, and “initiate coverage” on a few more. But do these analysts even know what they’re talking about? TipRanks found a solution.