Needham lowered the firm’s price target on Ambarella (AMBA) to $90 from $110 and keeps a Buy rating on the shares. The company’s Q1 results and Q2 guidance exceeded estimates, though the firm is reducing its price target to reflect more conservative assumptions in its discount cash flow valuation model, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMBA:
- Ambarella price target raised to $75 from $70 at Northland
- Ambarella price target lowered to $65 from $85 at Roth Capital
- Ambarella’s Promising Edge AI Expansion Drives Buy Rating
- Ambarella price target raised to $63 from $50 at BofA
- Ambarella’s Promising Outlook: Strategic Expansion and Diversified Revenue Streams Drive Buy Rating