In a report released yesterday, Andrew Uerkwitz from Oppenheimer maintained a Hold rating on Ambarella (AMBA). The company’s shares closed yesterday at $40.54.
Uerkwitz wrote:
“AMBA reported F4Q19 revenue/EPS of $51.1M/$0.14 vs. Street’s $50.9M/$0.04E and our $51.6M/$0.06E. EPS beat was due to a one-time valuation allowance on deferred tax assets. Management reiterated strong customer activity for its IP camera CV products (CV22 and CV25). Automotive market shows signs of stabilization, and management expects its penetration in OEM recorder market to continue. Wearable and drone market outlook remains weak, but it presents much smaller top-line headwind in FY20 comparing to previous years. Last, US-China trade tension is a main source of uncertainty for FY20 performance and may result in slower than expected commercialization of CV products in security IP camera market. We remain sidelined until macro headwinds dissipate.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 19.6% and a 58.8% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Turtle Beach Corp, and Universal Display.
The word on The Street in general, suggests a Hold analyst consensus rating for Ambarella.
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Based on Ambarella’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $9.02 million. In comparison, last year the company had a net profit of $1.26 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.
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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.
