Why Is Ambarella (AMBA) Stock Trading Down Today?
Portfolio Pulse from Ryan Gustafson
Ambarella (AMBA) reported better-than-expected Q1 earnings with an adjusted loss of 15 cents per share and revenue of $62.14 million. However, the company projected lower Q2 revenue of $60-64 million compared to estimates of $67.17 million. Several analysts lowered price targets, ranging from $70 to $100.
May 31, 2023 | 7:23 pm
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Ambarella's Q1 earnings beat estimates, but lower Q2 revenue projection and lowered analyst price targets may negatively impact the stock.
Ambarella reported better-than-expected Q1 earnings, but the company's lower Q2 revenue projection and lowered analyst price targets may negatively impact the stock in the short term. The stock is already down 14.4% at the time of publication.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100