In a report released today, Quinn Bolton from Needham assigned a Buy rating to Ambarella (AMBA), with a price target of $63.00. The company’s shares closed last Wednesday at $55.90.
According to TipRanks.com, Bolton is a top 25 analyst with an average return of 34.4% and a 75.6% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Axcelis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ambarella with a $58.25 average price target, a -0.7% downside from current levels. In a report issued on August 20, Rosenblatt Securities also assigned a Buy rating to the stock with a $60.00 price target.
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Based on Ambarella’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $54.65 million and GAAP net loss of $15.46 million. In comparison, last year the company earned revenue of $47.19 million and had a GAAP net loss of $17.31 million.
Based on the recent corporate insider activity of 82 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. Most recently, in June 2020, Chenming Hu, a Director at AMBA bought 1,112 shares for a total of $11,109.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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