What's Going On With Ambarella Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Ambarella, Inc. (NASDAQ:AMBA) shares rose after the company reported better-than-expected Q2 results, with a loss of 13 cents per share and revenue of $63.724 million. The company anticipates double-digit revenue growth in Q3. Analysts have raised price targets, with an average 1-year target of $78.08, indicating a 47.91% upside.
August 28, 2024 | 2:12 pm
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Ambarella's stock surged after reporting better-than-expected Q2 results, with a loss of 13 cents per share and revenue of $63.724 million. The company expects double-digit revenue growth in Q3. Analysts have raised price targets, with an average 1-year target of $78.08, indicating a 47.91% upside.
Ambarella's better-than-expected earnings and positive outlook for Q3 have led to a significant increase in its stock price. Analysts have responded by raising their price targets, indicating strong confidence in the company's future performance. The average price target suggests a substantial upside, which is likely to attract more investors in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100