Ambarella (AMBA): Earnings Preview - Needham
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Needham & Company analyst, Quinn Bolton, reiterated his Hold rating on shares of Ambarella (NASDAQ: AMBA), ahead of its 9/1 earnings report.
GoPro significantly reduced excess inventory levels of older GoPro cameras in the retail channel and on its balance sheet over the past two quarters, leading the analyst to expect AMBA to report F2Q17 results near the high end of guidance. The analyst is raising F3Q17 and F4Q17 estimates to reflect expectations for a strong HERO 5 build.
Due to potential shortages of Sony CMOS image sensors, the analyst is not making significant changes to estimates for other camera segments, with the exception of a slight increase in flying camera (drone) revenue estimates.
However, with AMBA shares up 67%, vs. 3.5% for the S&P 500, since June 1 and shares trading at nearly 22x CY17 EPS, the Hold rating remains.
Needham does not have a published price target on the company.
Shares of Ambarella closed at $68.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
- FBR Capital Reiterates Outperform on Verizon Communications (VZ) Following Solid 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company, Standard & Poor's, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!