Needham Gives a Buy Rating to Ambarella (AMBA)

Needham analyst Quinn Bolton assigned a Buy rating to Ambarella (AMBA) today and set a price target of $80.00. The company’s shares closed last Monday at $66.37.

According to, Bolton is a top 25 analyst with an average return of 35.1% and a 78.1% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Ultra Clean Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ambarella with a $72.33 average price target, representing a 9.4% upside. In a report issued on November 16, Rosenblatt Securities also maintained a Buy rating on the stock with a $65.00 price target.

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Ambarella’s market cap is currently $2.3B and has a P/E ratio of -47.80. The company has a Price to Book ratio of 5.53.

Based on the recent corporate insider activity of 78 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.

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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.

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