AI Revenue To Bolster Ambarella's Growth By 60% In 2024, 3 Analysts On Q1 Print
Portfolio Pulse from Priya Nigam
Ambarella Inc (NASDAQ:AMBA) shares dropped despite reporting upbeat Q1 earnings, as investors were concerned about the company's weak Q2 forecast. Analysts from Susquehanna, Needham, and Oppenheimer provided their insights on the earnings release.
May 31, 2023 | 5:19 pm
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Ambarella's shares dropped due to weak Q2 forecast despite strong Q1 earnings. Analysts from Susquehanna, Needham, and Oppenheimer provided their insights on the earnings release.
Ambarella's weak Q2 forecast has led to a drop in its share price, despite reporting strong Q1 earnings. Analysts from Susquehanna, Needham, and Oppenheimer provided their insights on the earnings release, with Susquehanna and Needham maintaining positive ratings and price targets, while Oppenheimer reaffirmed a Perform rating. The weak guidance is attributed to inventory overhang and lack of visibility into the end of the channel inventory overhang.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100