Morgan Stanley lowered the firm’s price target on Ambarella (AMBA) to $80 from $90 and keeps an Overweight rating on the shares. In addition to Nvidia (NVDA), several other “AI centric names” report this week, notes the analyst. The firm sees Ambarella – which is reporting after market close on Thursday, May 29 – reporting a better than seasonal April quarter, which it models flat sequentially versus typical seasonality of down 2-7% quarter-over-quarter. However, while the firm continues to see significant value in the strength of the company’s core Edge AI technology, it lowered the multiple on increased macro uncertainty and tariffs that could disrupt their IoT business.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMBA: