Deutsche Bank reissued their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research report released on Friday morning, AR Network reports. Deutsche Bank currently has a $28.00 price objective on the stock, up from their previous price objective of $20.00.
“AMBA posted strong F3Q14 results, exceeding DBe/Street on revs and EPS and providing in-line/slightly above-Street guidance. We continue to believe that the co’s differentiated technology positions it well for continued leadership in both existing and new categories (e.g., wearables), and its secular drivers in our view will continue to generate solid top-line growth in CY14. We are increasing our P/T on slightly raised CY14 ests, albeit with an expectation that next year’s returns will likely be less than those this year (shares up ~4x since IPO). We maintain our Buy and raise our P/T.,” the firm’s analyst wrote.
Ambarella (NASDAQ:AMBA) opened at 24.72 on Friday. Ambarella has a one year low of $8.60 and a one year high of $25.30. The stock’s 50-day moving average is $22.07 and its 200-day moving average is $18.47. The company has a market cap of $681.2 million and a price-to-earnings ratio of 35.21.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.08. The company had revenue of $46.00 million for the quarter, compared to the consensus estimate of $43.98 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts expect that Ambarella will post $1.00 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Ambarella from $20.00 to $27.00 in a research note to investors on Tuesday, December 3rd. They now have a buy rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Ambarella from an overweight rating to an equal weight rating in a research note to investors on Wednesday, October 30th. They now have a $18.00 price target on the stock. Finally, analysts at Chardan Capital initiated coverage on shares of Ambarella in a research note to investors on Thursday, October 17th. They set a neutral rating and a $20.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $23.60.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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