Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Ambarella (AMBA) to $115 from $100 and keeps a Buy rating on the shares following what the firm calls “another strong quarter.” Demand for its edge AI solutions continues to grow and a key driver of this momentum is the expanding and diversifying customer base, says the analyst, who also sees significant potential for Ambarella in the evolution of autonomous robotics.
Claim 55% 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 $92 from $90 at BofA
- Ambarella price target raised to $100 from $90 at Stifel
- Ambarella’s Strong IoT Performance and Strategic Growth in Drone and Automotive Sectors Drive Buy Rating
- Ambarella’s Growth Trajectory: Buy Rating Affirmed Amidst Rising Edge AI Demand and Revised Revenue Outlook
- Ambarella’s Edge AI Growth Balanced by Margin and Market Challenges: Hold Rating Maintained