Ambarella (AMBA): Raising PT After Non Deal Roadshow - Canaccord
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Canaccord Genuity analyst, Matthew Ramsay, reiterated his Buy rating on shares of Ambarella (NASDAQ: AMBA) but raised the price target to $87 from $86 after taking Ambarella's CEO Fermi Wang, CFO George Laplante,
and Deborah Stapleton from Ambarella's IR team to meet with investors.
The analyst stated that meetings were mixed in tone on nearterm trends with investors looking to understand the size and growth potential of the sports camera and drone markets. Longer-term focused meetings were positive and we believe investors are gradually starting to understand the underappreciated sensor fusion algorithm and computer vision hardware roadmaps Ambarella has developed organically and through the VisLab acquisition
Despite recent headwinds to growth at GoPro and from Sony, the analyst's long-term conviction regarding Ambarella's leading position in wearables, security, automotive, and drone cameras remains intact. The launch of new 14nm chipsets next year return the company to Y/Y sales/earnings growth, and the company will benefit from the computer vision chipset roadmap launches exiting C2017.
Shares of Ambarella closed at $63.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Cynosure (CYNO) PT, Estimates Trimmed at Stifel Despite Solid Results
- Oppenheimer Remains Bullish on Corelogic (CLGX) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesEarnings, Canaccord Genuity, Definitive Agreement
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!